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Gateway Media, SunTrust Close New $40MM Credit Facility

June 05, 2015, 07:33 AM
Filed Under: Media

Gateway Media, LLC closed on a new $40 million credit facility consisting of a $20 million revolver and a $20 million term loan. SunTrust Robinson Humphrey, Inc. and its affiliates  acted as left lead arranger and administrative agent and Fifth Third Bank acted as joint lead arranger and syndication agent on the new credit facility.

“The new credit facility will allow us to continue to develop and expand our content offerings,” said Gabe Douek, the company’s Chief Executive Officer. “We are poised for accelerated growth and capital from the new credit facilities will allow us to expand internally as well as through strategic acquisitions.”

“Closing the new credit facility is an important step for us to accelerate our growth and development,“ said Jeff Sanders, the company’s Chief Financial Officer. “We appreciate SunTrust’s and Fifth Third’s leadership in completing this transaction.”

Gateway is an online publisher, focused on building shareable web destinations that inform and entertain the world. Through its nine web sites, the company provides compelling content that reaches more than 90 million unique visitors each month.

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