Muzak gets new $105 million term loan

By Sara Rosenberg

New York, April 15 - Muzak LLC closed on a new $105 million senior secured term loan facility, according to a company news release.

Bear Stearns was the lead bank on the deal.

Amortization is quarterly installments of 0.25% beginning September of this year until final maturity on April 15, 2008.

Proceeds were used to repay in full the company's outstanding term loan and revolver debt and to collateralize outstanding letters of credit under the company's then existing senior credit facility.

Muzak is a Fort Mill, S.C., recorded music company.

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