Alcentra Provides Sub-Debt for Portfolio Company Refi
Alcentra Capital announced it has provided $3.0 million in senior subordinated debt to refinance its existing portfolio company, Media Storm, an independent media advertising and marketing agency. Alcentra said it drew down on its revolving credit facility to fund the investment.
Media Storm is a strategic media and marketing agency with roots in entertainment and an innovative model that’s redefining service and strategy. The company focuses exclusively on middle market media and entertainment clients, such as the Fox Network and the Scripps Network, with advertising budgets below $100 million. Media Storm’s emphasis is on the “tune in market” or media content that is associated with original programing.
NYC-based Alcentra Capital is an externally-managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940.