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RBmedia launches $892 million term loan B at Libor plus 375-400 bps
By Sara Rosenberg
New York, Jan. 26 – RBmedia was scheduled to hold a lender call at 3 p.m. ET on Tuesday to launch an $892 million first-lien term loan B due August 2025 that is talked at Libor plus 375 basis points to 400 bps with a 0% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Goldman Sachs Bank USA and KKR Capital Markets are the bookrunners on the deal.
Commitments are due at noon ET on Friday, the source added.
Proceeds will be used to reprice an existing $642 million term loan B down from Libor plus 425 bps with a 0% Libor floor and an existing $250 million term loan B-2 down from Libor plus 425 bps with a 0.5% Libor floor.
KKR is the sponsor.
RBmedia is a Landover, Md.-based digital audiobook and related spoken-word content producer.
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