SourceMedia seeks loan amendment to revise covenants, increase pricing

By Sara Rosenberg

New York, June 2 - SourceMedia Inc. is looking to amend its credit facility to loosen financial covenants and raise pricing, according to a market source.

The covenants that the company is asking to change are the leverage and interest coverage ratios.

In return, lenders would get a 100 basis point increase in pricing and a 50 bps amendment fee, the source said.

Citigroup is leading the amendment, which launched with a conference call last week.

SourceMedia is a New York-based provider of market information.

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