Cygnus Business Media $220 million credit facility to launch Tuesday

By Sara Rosenberg

New York, May 21 - Cygnus Business Media is scheduled to hold a bank meeting on Tuesday for a proposed $220 million credit facility, according to a market source. GE Capital and Union Bank of California are the lead banks on the deal.

The facility consists of a $140 million term loan B, a $30 million second lien term loan, a $20 million delayed draw term loan and a $30 million revolver, the source said.

Proceeds will be used to refinance existing debt.

Cygnus Business Media is a Westport, Conn., publisher of business-to-business media products.

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