Argus Media flexes $500 million term loan B to Libor plus 325 bps

By Sara Rosenberg

New York, Sept. 24 – Argus Media reduced pricing on its $500 million term loan B (B2/B+) to Libor plus 325 basis points from Libor plus 350 bps, according to a market source.

Furthermore, the original issue discount on the term loan was changed to 99.75 from talk in the range of 99 to 99.5, the source said.

As before, the term loan has a 0% Libor floor.

J.P. Morgan Securities LLC is the left lead bank on the deal.

Proceeds will be used for a dividend recapitalization.

Argus is a London-based media organization.

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