RBmedia firms $890 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, Jan. 29 – RBmedia set pricing on its $890 million first-lien term loan B (B3/B-) due August 2025 at Libor plus 400 basis points, the high end of the Libor plus 375 bps to 400 bps talk, according to a market source.

As before, the term loan has a 0% Libor floor, a par issue price and 101 soft call protection for six months.

Goldman Sachs Bank USA and KKR Capital Markets are the bookrunners on the deal.

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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