Summit Business Media to launch $153 million credit facility Friday

By Sara Rosenberg

New York, Nov. 14 - Summit Business Media LLC is scheduled to hold a bank meeting on Friday to launch its proposed $153 million credit facility, according to a market source.

BMO Capital Markets is the lead bank on the deal.

The facility consists of a $25 million six-year revolver talked at Libor plus 325 basis points, a $20 million six-year term loan A talked at Libor plus 325 bps, a $15 million 18-month delayed draw term loan, a $60 million 61/2-year term loan B talked at Libor plus 350 bps and a $33 million seven-year second-lien term loan talked at Libor plus 700 bps, the source said.

Proceeds will be used to back Wind Point Partners' already completed acquisitions of Pfingsten Publishing and Highline Media. The two acquired companies were combined to form Summit Business Media.

Summit is a Seven Hills, Ohio, business-to-business media company.

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