Press release from Business Wire
GE Capital Provides $405 Million Credit Facility to Entravision
Monday, June 10, 2013
GE Capital Provides $405 Million Credit Facility to Entravision08:00 EDT Monday, June 10, 2013
NORWALK, Conn. (Business Wire) -- GE Capital's Telecom, Media and Technology financing business today announced it served as administrative agent on a new $405 million credit facility for Entravision Communications, a diversified Spanish-language media company. GE Capital Markets served as sole bookrunner on the transaction.
“GE Capital understands our industry and provided a creative solution as we put our new credit facility in place,” said Walter Ulloa, Entravision's chairman and chief executive officer. “In working with GE Capital we were able to strengthen our capital structure which will provide additional flexibility as we continue to execute our strategic plan and further strengthen our diversified media platform across the U.S., which reaches millions of Spanish-speaking consumers every day.”
Entravision, headquartered in Santa Monica, California utilizes its television, radio and digital assets to reach Latino consumers across the United States and the border markets of Mexico. GE Capital has led financings for Entravision since 2010.
“GE's depth of knowledge in the media sector enabled us to provide a tailored financial solution that met the needs of management and the company's plans for growth,” said Matthew Fleming, senior vice president in GE Capital's Telecom, Media and Technology team. “We look forward to working with Entravision as they continue to grow and serve the needs of marketers looking to reach the nation's Latino consumers.”
About GE Capital, Telecom, Media and Technology
GE Capital's Telecom, Media and Technology business provides financing to enable corporate growth, acquisitions and balance sheet refinancings to companies in the following industries: cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services and software. It also finances technology companies that enable these industries. With Access GE, clients also benefit from access to GE's best practices. Visit gecapital.com/tmt.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
About Entravision Communications Corporation
Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television, radio and digital operations to reach Latino consumers across the United States, as well as the border markets of Mexico. Entravision is the largest affiliate group of both the top-ranked Univision television network and Univision's UniMas network, with television stations in 19 of the nation's top 50 Latino markets. The company also operates one of the nation's largest groups of primarily Spanish-language radio stations, consisting of 49 owned and operated radio stations. Additionally, Entravision has a variety of cross-platform digital content and sales offerings designed to capitalize on the company's leadership position within the Latino broadcasting community. Entravision shares of Class A Common Stock are traded on The New York Stock Exchange under the symbol: EVC.
GE Capital, Americas
Jennifer Sampson, 312-441-7055