Hemisphere Media Group, the only publicly traded pure-play U.S. media company targeting the Spanish-language television and cable networks business in the U.S. and Latin America, amended and extended its existing $213 million senior secured term loan B.

Pricing on the amended term loan facility is LIBOR plus 350 basis points with no LIBOR floor, decreasing the spread to LIBOR from the previous facility by 50 basis points and eliminating the previous LIBOR floor of 1.00%. The refinancing also extends the maturity date to February, 2024 and was issued with a 0.5% original issue discount.

“We are pleased to have completed this refinancing, which reflects the debt markets’ confidence in our business and balance sheet,” said Alan Sokol, president and CEO of Hemisphere. “The transaction extends the maturity of our term loan and reduces our cost of borrowing, providing us with additional flexibility to continue aggressively pursuing our strategic growth initiatives.”

According to a related 8-K filing, JPMorgan Chase served as administrative agent, joint lead arranger and bookrunner for the transaction. JPMorgan, Royal Bank of Canada and Deutsche Bank Securities were syndication agents, and CIT Finance acted as documentation agent.