4-16-13 Dial Global has closed on the recapitalization it announced back on March 4. The refinancing deal includes an amended and restated credit agreement among Dial Global, its lenders, and administrator General Electric Capital. The agreement, which has a maturity date of October 21, 2016, consists of -- after a $15 million paydown -- a $136 million term loan and revolving credit of about $23 million, $18 million of which is drawn.
Dial Global also entered into an agreement for an additional $31.5 million term loan facility with Blackrock Kelso Capital, with a maturity date of July 21, 2017, and issued penny warrants for Blackrock to purchase 7.5 percent of DG's common stock.
