Monroe Credit Places $16MM Facility for AllOver Media
Monroe Credit Advisors announced that it placed a $16 million senior-secured credit facility for AllOver Media. Proceeds of the facility refinanced the existing debt of the company.
Brent Krambeck, managing director and partner of Monroe Credit Advisors, said, “Our team was hired to structure and arrange a financing that would lower the company’s overall cost of capital and provide capacity for growth. We moved quickly to get into market and through our process, generated a number of options for the company to consider. We are pleased that we delivered a successful debt placement that met AllOver Media’s objectives.”
Shaun Nugent, CFO of AllOver Media, said, “The Monroe team did an excellent job raising our debt capital, and their debt placement process allowed us to focus our time on running our business. Monroe exceeded our expectations by generating a number of different structuring options and partners that we could consider. The process was efficient and we are very pleased with the results.”
Monroe Credit Advisors is executing more engagements with independent companies seeking a debt solution that requires relationships beyond the local bank market, particularly for non-sponsored cash flow transactions.
Krambeck added, “We think the AllOver Media transaction is an excellent example of how our team can bring debt market expertise to a particular financing opportunity that will create options and flexibility for our clients. Our process enables management teams to focus on running their business while we work to raise the debt capital. We are very pleased that our clients use us as an added resource to their team.”
Minneapolis-headquartered AllOver Media is a national provider of out-of-home advertising solutions.