Siena Lending Group, a provider of asset-based lending solutions, closed a new $35 million senior secured credit facility for a media company.
Represented by Guggenheim Securities, the company will use the facility to partially finance the buyout of its first lien notes. In addition, the proceeds will support ongoing working capital needs and fund divestiture costs across certain markets.
“The company is a recognized leader in radio broadcasting, and we are pleased to support its working capital requirements during this period of restructuring,” Stephen Fuscaldo, managing director at Siena Lending Group, said. “Despite the challenges facing the industry, Siena was able to structure a flexible revolving facility designed to support the company’s strategic vision and long-term growth.”
