Red Ventures talks $400 million term loan at Libor plus 300-325 bps

By Sara Rosenberg

New York, Sept. 24 – Red Ventures LLC launched on Thursday its $400 million incremental senior secured first-lien term loan (B1/B+/BB) with price talk of Libor plus 300 basis points to 325 bps with an original issue discount of 98, according to a market source.

BofA Securities Inc. is the left lead bank on the deal.

Proceeds will be used to help fund the acquisition of CNET Media Group, a digital media company, from ViacomCBS for $500 million.

Closing is expected in the fourth quarter, subject to regulatory approvals and customary conditions.

Red Ventures is a Fort Mill, S.C.-based portfolio of digital brands.

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