Daily News: June 11, 2013

GE Capital Provides $405MM Facility to Entravision

GE Capital’s Telecom, Media and Technology financing business announced it served as administrative agent on a new $405 million credit facility for Entravision Communications, a diversified Spanish-language media company. GE Capital Markets served as sole bookrunner on the transaction.

“GE Capital understands our industry and provided a creative solution as we put our new credit facility in place,” said Walter Ulloa, Entravision’s chairman and chief executive officer. “In working with GE Capital we were able to strengthen our capital structure which will provide additional flexibility as we continue to execute our strategic plan and further strengthen our diversified media platform across the U.S., which reaches millions of Spanish-speaking consumers every day.”

Entravision, headquartered in Santa Monica, CA utilizes its television, radio and digital assets to reach Latino consumers across the United States and the border markets of Mexico. GE Capital has led financings for Entravision since 2010.

“GE’s depth of knowledge in the media sector enabled us to provide a tailored financial solution that met the needs of management and the company’s plans for growth,” said Matthew Fleming, senior vice president in GE Capital’s Telecom, Media and Technology team. “We look forward to working with Entravision as they continue to grow and serve the needs of marketers looking to reach the nation’s Latino consumers.”

Previously on abfjournal.com:

GE Capital Agents Entravision Communications Credit Facility, Friday, May 31, 2013