Daily News: July 10, 2017

Encina Provides $20MM Facility to Times Publishing

Encina Business Credit provided a $20 million senior secured credit facility to Times Publishing and its subsidiaries.

The financing, which is comprised of a revolving line of credit and two term loans, will be used to refinance the company’s existing senior credit facility and to provide working capital for growth.

Based in St. Petersburg, FL, Times Publishing owns and publishes the Tampa Bay Times, a daily newspaper serving the Tampa Bay area, and various other local media assets.

According to Paul Tash, chairman and CEO of Times Publishing, “We’ve been impressed by the way Encina has worked to understand our business and develop a financing package that best suits our needs. They recognize the tremendous gains we have made and are helping us carry our plans forward.”