PNC Agents $115 Gatehouse Media Facility
PNC Bank announced the closing of a $115 million senior secured financing facility for Gatehouse Media. The company will use the funds to restructure existing debt following successful chapter 11 bankruptcy proceedings.
PNC Bank provided $65 million and will serve as administrative and collateral agent for the entire facility.
Gatehouse is one of the largest publishers of locally-based print and online media in the U.S.
Previously on abfjournal: Houlihan, Others Advise GateHouse in Chapter 11 Emergence/Restructuring, November 27, 2013