Village Voice Media launches new $130 million credit facility

By Sara Rosenberg

New York, Jan. 6 - Village Voice Media held a bank meeting on Friday to launch its proposed $130 million credit facility, according to a market source.

Harris Nesbitt is the lead bank on the deal.

The facility contains a $15 million revolver, an $80 million term loan A and a $35 million term loan B talked at Libor plus 225 basis points, the source said.

Proceeds will be used to help fund the merger of Village Voice Media and New Times Media into one large New York-based alternative media company.

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