RBmedia launches $250 million add-on term loan at 99.03-99.5 OID

By Sara Rosenberg

New York, Sept. 24 – RBmedia launched on Thursday its fungible $250 million add-on first-lien term loan B due Aug. 31, 2025 with original issue discount talk in the range of 99.03 to 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 425 basis points with a 25 bps step-down at less than 3.8x first-lien net leverage and a 0% Libor floor.

Goldman Sachs Bank USA, KKR Capital Markets, Morgan Stanley Senior Funding Inc., ING and Truist are the leads on the deal.

Commitments are due at 11 a.m. ET on Wednesday, the source added.

Proceeds will be used to fund a dividend to existing shareholders.

RBmedia is a Landover, Md.-based digital audiobook and related spoken-word content producer.

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