NewStar Business Credit Provides $18.1 Million to Slate
NewStar Business Credit, a wholly owned subsidiary of NewStar Financial, Inc. announced that it has provided Slate Media Group with credit facilities totaling $18.1 million to support the acquisition of the New York operations of Technicolor and certain assets of Telecorps Holdings and its operating subsidiaries (Hula Post Production, Wexler Video, Orbit Digital California and Postworks). The credit facilities include a $14.1 million revolver and a $4 million term loan.
With dual headquarters in New York, NY and Burbank, CA, Slate is a growing provider of entertainment production and post production equipment rental and related services.
Milton Iskra, EVP and national marketing manager for NewStar Business Credit, commented,