Cinedigm Digital Cinema has closed two credit facilities totaling $195 million, improving the terms of its previous financing arrangements.

Wall Street reacted positively to the announcement, with the stock gaining 9.5%. The issue rose 13 cents to $1.50.

The announced Friday closings include a $125-million senior non-recourse credit facility led by Societe Generale Corporate & Investment Banking and a $70-million non-recourse credit facility provided by Prospect Capital Corp.

Cinedigm said the credit facilities will be supported by cash flows from its digital cinema servicing business and will refinance its existing $92 million non-recourse senior loan and $98 million recourse note.

Cinedigm said the new facilities “significantly improve” upon the terms of the previous financing arrangements due to reduced borrowing costs, making all debt non-recourse to Cinedigm’s software and content businesses and a significant maturity extension.

“We are pleased to announce this successful refinancing of our existing debt,” said Chris McGurk, Chairman and CEO, in a statement. “This transaction reaffirms the value of the Company’s digital cinema asset base and positions Cinedigm to accelerate our growth plans.”

Blackstone Advisory Partners L.P. acted as financial adviser  with the transaction.

Cinedigm specializes in digital cinema deployment and servicing. It’s also a digital aggregator of independent content for theaters, digital and on-demand platforms, and on DVD/Blu-ray via partnerships with iTunes, Netflix, Amazon, Google, Hulu, Vudu, Xbox, Playstation and has a library of over 5,000 titles.

Cinedigm has handled releases of “The Invisible War,” “Hell and Back Again,” “GasLand,” “Waste Land” and “Paradise Lost 3: Purgatory.”