RBmedia changes $250 million add-on term loan discount to 99

By Sara Rosenberg

New York, Sept. 30 – RBmedia revised the original issue discount on its $250 million add-on first-lien term loan B (B3/B-) due Aug. 31, 2025 to 99 from talk in the range of 99.03 to 99.5, according to a market source.

Also, the Libor floor on the add-on term loan was changed to 0.5% from 0% and the debt was switched to non-fungible from fungible, the source said.

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

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

Recommitments were scheduled to be due at 3:30 p.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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