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Alliance Entertainment Secures New $120M Senior Secured Credit Facility With 3-Year Term

Author: Benzinga Newsdesk | December 22, 2023 02:18am

Alliance Entertainment announced the closing of a new 3-year $120 million senior secured asset based credit facility with White Oak Commercial Finance, LLC. This credit facility replaces the Company's revolver with Bank of America.
The new credit facility includes a $120 million asset based revolving credit facility (the "Revolver"). The Revolver will bear interest at a rate of the 30-day SOFR plus 4.5%, Borrowings from the facility will primarily be used to retire the existing credit facility, fund working capital needs and provide for general corporate purposes.

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