Sesac sets Thursday lender call for $115 million in loans via Jefferies

By Paul A. Harris

Portland, Ore., April 7 – Sesac plans to participate in a lender call organized by Jefferies LLC on Thursday.

The Nashville, Tenn.-based performing rights organization is shopping a $90 million second-lien term loan and a $25 million add-on to its existing first-lien term loan.

Proceeds will be used to support a dividend recapitalization.

Last year, the company repaid its previous second-lien term loan with proceeds from a $155 million add-on to its previously $235 million first-lien term loan due February 2019, which is priced at Libor plus 400 basis points with a 1% Libor floor.

Sesac represents the interests of individual songwriters and publishers of music to ensure they are compensated for the public performance of their copyrighted material.

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