Weather Channel to launch $1.625 billion term loan B on Wednesday

By Sara Rosenberg

New York, Jan. 24 - Weather Channel is scheduled to hold a conference call on Wednesday to launch a proposed $1.625 billion six-year term loan B, according to a market source.

Deutsche Bank is the sole lead arranger on the deal and is a joint bookrunner with Credit Suisse, Goldman Sachs and JPMorgan.

Price talk on the term loan B is Libor plus 400 basis points with a 1.5% Libor floor and an original issue discount of 991/2, the source said.

There is 101 soft call protection for one year.

Proceeds will be used to replace the company's existing $1.3 billion term loan B that is priced at Libor plus 350 bps with a 1.5% Libor floor, to refinance some junior debt and for general corporate purposes.

Weather Channel is an Atlanta-based media company devoted to bringing weather news via television, internet and mobile devices.

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