Morris Publishing $350 million credit facility talked at Libor plus 100 bps

By Sara Rosenberg

New York, Oct. 27 - Morris Publishing Group LLC's $350 million all pro-rata seven-year credit facility is currently talked at Libor plus 100 basis points, according to a market source.

The facility, which launch earlier this month, contains a $175 million revolver tranche and a $175 million term loan A tranche, the source said.

JPMorgan is the lead bank on the deal that will be used to refinance the company's existing credit facility.

By refinancing, Morris aims to reduce interest costs. The facility will also be $50 million smaller than the existing one.

Morris Publishing is an Augusta, Ga., newspaper and magazine publisher.

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