GE Capital’s Telecom, Media and Technology financing business, an operating unit of General Electric Company (GE - Analyst Report), recently served as administrative agent for a $405 million-worth credit facility for Entravision Communications Corporation (EVC - Snapshot Report). The debt financing will augment Entravision’s liquidity and working capital requirements to fuel further growth.
Headquartered in Santa Monica, CA, Entravision is a diversified Spanish-language media company with a univocal presence in television, radio, and digital media. With 19 television stations in the top 50 Latino markets in the U.S., and 49 owned and operated radio stations, Entravision primarily caters to the Latino customers across the U.S. as well as the broader markets of Mexico. In addition, Entravision has a plethora of cross-platform digital content for the Latino community in the region.
Entravision is likely to utilize the credit facility to fuel both organic and inorganic growth. In addition, the debt financing will provide additional flexibility to seamlessly execute its strategic plan and further strengthen its existing relationship with General Electric.
General Electric is one of the largest and the most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content, and industrial products, the company serves over 100 million customers worldwide.
Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. GE Capital’s Telecom, Media and Technology business primarily offers financing to cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services and software companies across the globe.
General Electric currently has a Zacks Rank #3 (Hold). Other companies in the industry that are worth mentioning include Compass Diversified Holdings (CODI - Snapshot Report) and ITT Corporation (ITT - Analyst Report), each carrying a Zacks Rank #2 (Buy).