Wenner Media firms discount on $190 million term loan B at 96½

By Sara Rosenberg

New York, Feb. 7 - Wenner Media LLC finalized the original issue discount on its $190 million five-year term loan B at 961/2, the high end of the revised talk of 96½ to 97 and wide of initial talk of 98, according to a market source.

Pricing on the loan is Libor plus 950 basis points with a 1.25% Libor floor. Earlier, the spread was increased from Libor plus 800 bps and the tranche was downsized from $200 million.

The term loan B has hard call protection of 103½ in year one, 102 in year two and 101 in year three. This had been revised from soft call protection of 102 in year one and 101 in year two.

The company's $205 million credit facility (B3/B) also includes a $15 million 41/2-year revolver.

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

Proceeds will be used to refinance existing debt and for general corporate purposes.

Wenner Media is a New York-based provider of entertainment and lifestyle brand publications.

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