SourceMedia launches term loan B add-on to repay second-lien debt

By Sara Rosenberg

New York, Nov. 30 - SourceMedia Inc. (formerly Thomson Media) launched an amendment on Wednesday that would upsize its first-lien term loan B by $30 million so as to take out its $30 million second-lien term loan, according to a market source.

Following completion of the transaction, the term loan B would have a total size of $185 million. Pricing on the upsized tranche would remain unchanged at Libor plus 225 basis points, the source said.

The company's $35 million revolver would stay in place as is, with pricing remaining at Libor plus 275 bps.

Total leverage, which will be comprised of all senior debt, will be 4.75 times.

Citigroup is the lead bank on the deal.

Only existing lenders were approached for the term loan upsizing.

SourceMedia is a New York-based provider of print-based information products focused on the banking, financial services and related technology markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.