DG FastChannel sees possibility to negotiate larger, better revolver

By Sara Rosenberg

New York, May 5 - DG FastChannel Inc. believes it has the opportunity to negotiate a larger and enhanced revolving credit facility as a result of its recent equity offering and the move to a net cash position in early April, said Scott Ginsburg, chairman and chief executive officer, in a news release on Wednesday.

Subsequent to the end of the first quarter, the company completed a public equity offering, raising net proceeds of roughly $108 million.

Proceeds from the offering were used to retire all outstanding debt.

After giving effect to the application of the equity proceeds, debt retirement and interest rate swap terminations, the company's adjusted cash balance as of March 31 was approximately $59 million.

DG FastChannel is an Irving, Texas-based provider of digital media services to the advertising, entertainment and broadcast industries.

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