World Wrestling Entertainment gets $200 million unsecured revolver

By Sara Rosenberg

New York, Sept. 15 - World Wrestling Entertainment Inc. closed on a new $200 million three-year unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

J.P. Morgan Securities LLC acted as the lead arranger, bookrunner and administrative agent on the deal that was completed on Sept. 9.

Pricing on the revolver is Libor plus 200 basis points. After completion of the company's first fiscal quarter following the closing of the revolver, if usage exceeds 50%, pricing will step up by 25 bps.

Proceeds may be used for the formation of a WWE television network, the expansion and update of the company's media center and potential strategic acquisitions.

World Wrestling is a Stamford, Conn.-based media organization.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.