St. Louis, MO (PRWEB) June 04, 2015
Gateway Media, LLC (“Gateway” or the “company”) announced today that it has closed on a new $40 million credit facility (the “new credit facility”).
“The new credit facility will allow us to continue to develop and expand our content offerings,” said Gabe Douek, the company’s Chief Executive Officer. “We are poised for accelerated growth and capital from the new credit facilities will allow us to expand internally as well as through strategic acquisitions.”
The new credit facility consists of a $20 million revolving credit and a $20 million term loan. SunTrust Robinson Humphrey, Inc. and its affiliates (“SunTrust”) acted as left lead arranger and administrative agent and Fifth Third Bank (“Fifth Third”) acted as joint lead arranger and syndication agent on the new credit facility.
“Closing the new credit facility is an important step for us to accelerate our growth and development,“ said Jeff Sanders, the company’s Chief Financial Officer. “We appreciate SunTrust’s and Fifth Third’s leadership in completing this transaction.”
Gateway is an online publisher, focused on building shareable web destinations that inform and entertain the world. Through its nine web sites, the company provides compelling content that reaches more than 90 million unique visitors each month. For additional information, please visit the company website at http://www.gatewaymedia.com.