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Warner Music readies launch of $630 million term loan for Wednesday
By Sara Rosenberg
New York, Oct. 16 - Warner Music Group Corp. (WMG Acquisition Corp.) is set to hold a bank meeting at 11 a.m. ET on Wednesday to launch a $630 million six-year first-lien covenant-light term loan, according to a market source.
Credit Suisse Securities (USA) LLC and UBS Securities LLC are the lead banks on the deal.
The term loan has 101 soft call protection for one year, the source said.
Proceeds will be used to refinance existing debt.
Warner Music is a New York-based music content company.
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