CBD Media holds conference call to launch $153 million term loan D

By Sara Rosenberg

New York, Oct. 12 - CBD Media LLC held a conference call Tuesday morning for existing lenders to launch its proposed $153 million term loan D, according to a market source. Lehman Brothers and Bank of America are the lead banks on the deal, with Lehman listed on the left.

Essentially, the company is taking its existing term loan C and increasing it by $23 million through this transaction. This additional term loan debt will be used, along with $5 million of cash on hand and proceeds from a proposed $75 million to $100 million senior note offering, to pay a dividend to equity holders.

Pricing on the "new" term loan D will be consistent with pricing on the existing term loan C, which is Libor plus 225 basis points with a step down to Libor plus 200 basis points under certain conditions, the source said.

CBD Media is a Cincinnati multimedia publisher of Yellow and White Page directories.

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