RLJ Entertainment completed the refinancing of its subordinated debt issued in 2012.

The company amended its credit facility with Digital Entertainment Holdings (DEH), a subsidiary of AMC Networks, to, among other things, expand the tranche A term loan from $5 million to $13 million to repay the subordinated debt, extend the maturity date of the tranche A term loan to June 30, 2019, and modify the related financial covenants to reflect the repayment and extended maturity date.

“We are pleased with the continued support from AMC Networks shown by this refinancing which allowed us to eliminate our subordinated debt and reduce our debt servicing costs. The refinancing provides us with financial flexibility to focus on growing our digital channels, Acorn TV and UMC, and accelerate content investment,” said Miguel Penella, RLJ Entertainment CEO.

RLJ Entertainment is an entertainment content distribution company in primarily North America, the UK and Australia.