The revolving credit facility used by Arbitron is set to expire next month. The ratings company has announced a new facility, being put in place per an agreement with by J.P. Morgan Securities LLC.
The five-year unsecured credit facility is good for $150M, on par with the facility it is replacing. According to Arbitron, it “…will be available for working capital requirements and general corporate purposes, which may include permitted acquisitions, share repurchases, and payment of dividends.”
It also comes with an expansion feature that can add as much as $75M to the total.
Arbitron is known for being the pre-eminent provider of radio ratings in the US, but that’s not all it does. It lists its activities as follows: “measuring network and local market radio audiences across the United States; surveying the retail, media and product patterns of U.S. consumers; providing mobile audience measurement and analytics in the United States, Europe, Asia and Australia, and developing application software used for analyzing media audience and marketing information data.”