Proceeds to be used to repay existing credit facility and for growth of
the company's operations
NEW YORK, June 19 /CNW/ - MDC Partners Inc. (Nasdaq: MDCA; TSX: MDZ.A)
today announced that it has successfully completed a new $185 million
financing. This financing consists of a $55 million revolving credit facility,
a $60 million term loan and a $70 million delayed draw term loan. The five
year facility will mature in June 2012.
This financing was provided by Fortress Credit Corp., an affiliate of
Fortress Investment Group LLC, and Wells Fargo Bank. This facility will
replace the Company's existing $96.5 million credit facility that was
originally expected to mature on September 22, 2007.
"We are very pleased with our new financing. This new and expanded
facility will give us greater capacity and flexibility to finance our
expanding operations and to implement our growth plans over the next several
years," said Miles Nadal, Chairman and Chief Executive Officer.
About MDC Partners Inc.
MDC Partners is a leading provider of marketing communications services
to clients in North America, Europe and Latin America. Through its partnership
of entrepreneurial firms it provides advertising, specialized communications
and consulting services to leading brands. MDC Partners' philosophy emphasizes
the utilization of strategy and creativity to drive growth for its clients.
MDC Partners is "The Place Where Great Talent Lives". MDC Partners Class A
shares are publicly traded on the NASDAQ under the symbol "MDCA" and on the
Toronto Stock Exchange under the symbol "MDZ.A".
For further information:
For further information: Donna Granato, Director, Finance & Investor
Relations, (646) 429-1809, firstname.lastname@example.org