Kew Media Group closed a new credit facility for its subsidiary, Content Media, with SunTrust Bank as administrative agent.

Under terms of the facility, a syndicate led by SunTrust Bank, with SunTrust Robinson Humphrey acting as lead arranger and including TD Bank and Bank of Montreal as syndication agents, provided Content Media with a five-year $100 million credit facility with an additional $25 million accordion feature.

This represents an increase from the previously announced $75 million facility due to syndication demand.

On closing of the facility, the company drew down proceeds to repay Content Media’s previous facilities with JPMorgan and Comerica, which have terminated.

The interest rate on the new credit facility is variable, reflecting either the base rate or LIBOR rate (as applicable) plus the variable margin of 2.25%-2.5% for base rate loans and 3.25%-3.5% for LIBOR loans. The funds are available for Kew Media’s corporate purposes going forward.

“We are pleased to finalize this credit facility,” said Steven Silver, CEO of the company. “Kew Media has a robust, active pipeline of attractive acquisition targets and the new facility increases our flexibility in negotiating potential transactions.”