Bug Music gets $200 million credit facility

By Sara Rosenberg

New York, Sept. 17 - Bug Music Inc. closed on a new $200 million credit facility, according to a news release.

JPMorgan acted as the lead bank on the deal.

Pricing on the facility is Libor plus 250 basis points.

There is a $50 million accordion feature.

"Our sound business fundamentals and practices continue to be rewarded as reflected by the facility size and attractive rate, in spite of a very difficult credit market. The significant upsizing of our credit facility will enable Bug Music to continue to have the financial resources to pursue acquisition opportunities and will enable us to continue to grow the company effectively," said John Rudolph, chief executive officer, in the release.

Bug Music is a Los Angeles-based music publisher.

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