Media General launches term loan B repricing at Libor plus 275-300 bps

By Sara Rosenberg

New York, June 11 – Media General Inc. launched a repricing of its $1,666,000,000 covenant-light term loan B due July 2020 with talk of Libor plus 275 basis points to 300 bps with a 1% Libor floor and a par issue price, according to a market source.

The repricing will take the loan down from Libor plus 325 bps with a 1% Libor floor.

Included in the repriced loan is 101 soft call protection for six months, the source said.

RBC Capital Markets LLC is the lead bank on the deal.

Commitments are due on June 18, the source added.

Media General is a Richmond, Va.-based local television broadcasting and digital media company.

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