Spanish-language TV and radio station owner Entravision Communications Corp. reportedly plans to refinance its debt by seeking $405 million in loans.
The Santa Monica company, the largest affiliate group of Univision’s flagship television network, has engaged GE Capital Markets, the lending unit of General Electric Co., to arrange a loan package that includes a $30 million revolving line of credit, sources told Bloomberg News. Also part of the deal is a $375 million term loan.
Entravision said late last week that it was seeking a new secured bank credit facility, did not provide details. The Bloomberg report said a bank meeting is set for Thursday, with commitments due by May 22.
Entravision shares closed up 39 cents, or 9 percent, to $4.43 on the New York Stock Exchange.