Citizens Bank served as administrative agent, lead arranger and bookrunner on a five-year credit agreement consisting of a $50 million term loan and a revolving credit facility of up to $15 million for Fluent, a marketing company. BankUnited and Silicon Valley Bank also participated in the deal.

Fluent will use the proceeds of the term loan to repay all outstanding amounts under its previous credit facility (the refinanced term loan), to pay transaction fees and expenses, and for working capital and other general corporate purposes.

Borrowings under the new credit facility bear a floating rate of interest with a LIBOR margin of between 1.75% and 2.75%, which compares with a LIBOR margin of 7% under the refinanced term loan. The new credit facility will mature on March 31, 2026.

“This refinancing brings many benefits to Fluent, including considerably lowering our cost of debt capital, enhancing our financial flexibility and providing additional capital to support future growth opportunities,” Alex Mandel, CFO of Fluent, said.

“We’re thrilled to be partnering with Citizens Bank, BankUnited and SVB on this important transaction and in our journey ahead,” Ryan Schulke, CEO of Fluent, said. “In providing this new credit facility, these strategic capital relationships demonstrate confidence and trust in our long-term strategic plan and market opportunity. We are also sincerely appreciative of HIG Whitehorse for their partnership and support under our previous credit facility over the past five years.”