RBmedia launches $350 million add-on term loan B at 99.5 OID

By Sara Rosenberg

New York, Jan. 28 – RBmedia launched on Tuesday its fungible $350 million add-on first-lien term loan B due Aug. 31, 2025 with original issue discount talk of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 450 basis points with a 0% Libor floor.

The add-on term loan has 101 soft call protection for six months and amortization of 1% per annum.

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

Commitments are due on Feb. 7, the source said.

Proceeds will be used to fund the acquisition of OverDrive Inc., a digital reading platform for libraries and schools, by KKR from Rakuten USA.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.