iMedia Brands gets $108.5 million debt financing via Siena, GreenLake

By Marisa Wong

Los Angeles, Aug. 5 – iMedia Brands, Inc. closed on a new $108.5 million debt financing comprising a revolving credit facility from Siena Lending Group and a term note from GreenLake Asset Management, according to a news release.

The new revolver led by Siena provides an $80 million commitment.

The $28.5 million term note from GreenLake is backed by iMedia’s owned real estate, which includes its corporate headquarters and production studios located in Eden Prairie, Minn., as well as its warehouse and fulfillment center centrally located in Bowling Green, Ky.

Both the revolver and term note have three-year terms.

D.A. Davidson & Co. acted as exclusive financial advisor to the company in arranging and placing the financing.

iMedia Brands is an interactive media company based in Eden Prairie, Minn.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.