Alliance Entertainment Secures New $120M Senior Secured Credit Facility With 3-Year Term
Portfolio Pulse from Benzinga Newsdesk
Alliance Entertainment has closed a new 3-year $120 million senior secured asset based credit facility with White Oak Commercial Finance, LLC. This facility replaces their previous arrangement with Bank of America and includes a revolving credit facility with an interest rate of 30-day SOFR plus 4.5%. The funds will be used to retire the existing credit facility, support working capital, and for general corporate purposes.
December 22, 2023 | 6:19 am
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Alliance Entertainment has obtained a new $120 million credit facility with White Oak, which will help in retiring existing debt and financing its working capital, potentially strengthening the company's financial position.
The new credit facility is likely to have a positive impact on Alliance Entertainment's financial flexibility by providing additional capital at a reasonable interest rate. This could improve investor confidence in the company's ability to manage its finances and invest in growth opportunities.
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