Magnite readies launch of $360 million term loan B for Tuesday

By Sara Rosenberg

New York, March 22 – Magnite will hold a lender call at 11 a.m. ET on Tuesday to launch a $360 million term loan B, according to a market source.

Goldman Sachs Bank USA, Fifth Third, SVB and Societe Generale are the bookrunners on the deal.

Proceeds will be used to help fund the acquisition of SpotX from RTL Group for $1.17 billion in cash and stock. Magnite plans to issue 14 million shares to RTL.

Closing is expected in the second quarter, subject to receipt of regulatory approvals and satisfaction of customary conditions.

Magnite is a Los Angeles-based sellside advertising platform. SpotX is a Brookfield, Colo.-based video advertising platform.

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