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Warner Music places $150 million add-on term loan at 99.01 OID
By Sara Rosenberg
New York, June 29 – Warner Music Group (WMG Acquisition Corp.) placed a fungible $150 million add-on term loan due 2028 that priced with an original issue discount of 99.01, according to a market source.
The add-on term loan is priced at SOFR+CSA plus 212.5 basis points with a 0% floor.
JPMorgan Chase Bank led the deal.
Proceeds are being used to refinance a 2022 incremental term loan priced at SOFR plus 300 bps.
Warner Music is a New York-based music entertainment company.
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