Demand Media secures expanded $225M credit facility

|By:, SA News Editor

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."