Journal Communications amends revolver, pushing out maturity

By Sara Rosenberg

New York, Aug. 18 - Journal Communications Inc. amended its revolving credit facility, extending the tenor so that $225 million of commitments mature on Dec. 2, 2013 and $74 million of commitments mature on June 2, 2011, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

The commitments due in 2013 carry pricing that ranges from Libor plus 225 basis points to 350 bps based on leverage.

Pricing on the commitments due in 2011 ranges from Libor plus 37.5 bps to 87.5 bps based on leverage.

The revolver also includes a revised leverage covenant ratio of 3.5 times.

The amendment was completed on Aug. 13.

U.S. Bank is the administrative agent on the deal.

Journal Communications is a Milwaukee, Wis.-based diversified media company.

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