The Times Publishing Company has finalised a $28 million loan with Crystal Financial LLC in order to “refinance existing debt and to provide incremental liquidity for growth”. The facility matures in December 2016.
The Times Publishing Company owns publications that include the Tampa Bay Times and Florida Trend business magazine, as well as websites such as TampaBay.com and PolitiFact.com.
Times Publishing Co.’s Chief Financial Officer, Jana Jones, praised the efforts of Crystal Financial to aid the media comapny:
“We are delighted to be partnering with Crystal Financial as our financing source. They were very responsive, understood our unique needs and were flexible in their approach. The capital they have provided will be instrumental for the future growth and development of our business.”
Crystal Financial has managed more than $20 billion in secured debt commitments.