RBmedia launches $150 million add-on term loan B at 99.5-99.75 OID

By Sara Rosenberg

New York, June 24 – RBmedia held a lender call at 2 p.m. ET on Thursday to launch a fungible $150 million add-on term loan B due Aug. 31, 2025 that is talked with an original issue discount of 99.5 to 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing.

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

Commitments are due at noon ET on June 30, the source added.

Proceeds will be used to fund the acquisition of Kanopy, a video streaming service for public and academic libraries, by Overdrive, a Cleveland-based digital reading platform for libraries and schools that is part of RBmedia.

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

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