Santa Monica-based online publisher Demand Media said Tuesday afternoon that it has entered into a new, $225M credit facility, split between a $125M revolving credit facility and a $100M term loan. According to Demand Media, the new facility replaces an existing, $105M revolving credit facility. Demand Media said the new facility has an option to increase the amount to $250M. Demand Media said it would use the new funding with "additional flexibility and liquidity", and in particular to help pursue its strategic objectives and a spin-off of its domain services businesses. The new facility came from Silicon Valley Bank, U.S. Bank, Fifth Third Bank, Comerica Bank, Citibank, Union Bank, OneWest Bank, and Goldman Sachs Bank.
Top NewsWednesday, September 4, 2013
Demand Media Gets $225M Credit Facility