Demand Media secures expanded $225M credit facility


Demand Media (DMD) secures a new $225M credit facility comprised of a $125M revolver and a $100M term loan due 2018. The facility has an additional $25M accordion feature. It replaces Demand's existing $105M revolver due to expire in 2016.

CFO Mel Tang: This new credit facility ... provides liquidity to pursue our strategic objectives, including the previously announced spin-off of our domain services businesses."

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