WhiteHorse Capital Provides a First Lien Term Loan to Coastal TV
STAMFORD – January 28, 2022 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, a leading global alternative assets investment firm with over $47 billion of equity capital under management, provided a first lien term loan to support Coastal Television Broadcasting Group LLC’s (“Coastal TV” or the “Company”) acquisition of Waypoint, refinance existing debt, and pay related fees and expenses.
“The WhiteHorse Capital team is a great financial partner. They worked with us throughout the transaction to understand our needs and developed a financing solution that supports our objectives. We were impressed with their deep industry expertise and their flexibility with the transaction structure. We now look forward to continuing our partnership as we grow our business,” said Bill Fielder, Founder and Chief Executive Officer at Coastal TV.
Mark Bernier, Managing Director at WhiteHorse Capital, added, “We are thrilled to partner with Coastal TV as they execute on their growth strategy.”
About Coastal TV
Founded in 2008 and headquartered in Anchorage, AK, Coastal TV is a regional broadcast television operator with 15 channels across three states (AK, WY, and MS). Network affiliations include FOX, ABC, and CBS.
Waypoint is a regional broadcast television and radio operator. Waypoint’s assets include seven TV stations in TN, AR, NY, IN, and MS, plus four IN radio stations (3 FMs and 1 AM). Network affiliations include FOX, ABC, NBC, and CBS.
About WhiteHorse Capital
WhiteHorse is the direct lending affiliate of H.I.G. Capital, a leading global alternative assets investment firm with over $47 billion of equity capital under management.* WhiteHorse provides debt financing to middle market companies across a wide range of industries, including Telecom, Media and Technology, Healthcare, Business Services and Financial Services. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship-oriented portfolio management philosophy.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.