F+W Media talks $135 million credit facility at Libor plus 500-525 bps

By Sara Rosenberg

New York, May 30 - F+W Media Inc. launched on Thursday its $135 million credit facility with price talk of Libor plus 500 basis points to 525 bps with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The facility consists of a $10 million revolver and a $125 million term loan B.

Included in the B loan is 101 soft call protection for one year, the source said.

Commitments are due on June 13.

Macquarie Capital is leading the deal.

Proceeds will be used to refinance existing debt.

Net first-lien leverage is 3.7 times.

In addition, with the refinancing, the company is extending the maturity on its existing $25 million second-lien term loan.

The second-lien loan is not being syndicated since existing lenders have rolled over their commitments already, the source added.

F+W Media is a community-focused, content creator and marketer of products and services for enthusiasts. Its main offices are in Blue Ash, Ohio, New York and Broomfield, Colo.

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