F&W Publications launches $400 million credit facility

By Sara Rosenberg

New York, July 12 - F&W Publications Inc. held a bank meeting to embark on its proposed $400 million credit facility, according to a market source.

JPMorgan and Credit Suisse First Boston are joint lead arrangers on the deal, with JPMorgan the left lead.

The facility consists of a $50 million revolver talked at Libor plus 300 basis points, a $250 million first-lien term loan talked at Libor plus 300 bps and a $100 million second-lien term loan talked at Libor plus 700 bps, the source said.

Proceeds will be used to help fund the leveraged buyout of F&W by Abry Partners from Providence Equity Partners.

F&W is a Cincinnati, Ohio-based publisher of special interest magazines and books.

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