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Raycom readies launch of $400 million term loan B for Monday
By Sara Rosenberg
New York, July 25 – Raycom Media Inc. is scheduled to hold a lender meeting at 1:30 p.m. ET on Monday to launch a $400 million term loan B, according to a market source.
Wells Fargo Securities LLC is the lead bank on the deal.
The term loan B includes 101 soft call protection for six months, and secured net leverage, total net leverage and interest coverage covenants, the source said.
Proceeds will be used to refinance existing debt.
Commitments are due on Aug. 14, the source added.
Raycom is a Montgomery, Ala.-based broadcaster and owner and operator of television stations.
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