Simon & Schuster to launch $1.21 billion credit facilities on Tuesday

By Sara Rosenberg

New York, Sept. 18 – Simon & Schuster (Century DE Buyer LLC) is set to hold a lender call at 1 p.m. ET on Tuesday to launch $1.21 billion of credit facilities, according to a market source.

Jefferies LLC, KKR Capital Markets, HSBC Securities (USA) Inc., Mizuho, RBC Capital Markets, UBS Investment Bank, Goldman Sachs Bank USA, Credit Agricole and SPC are the lead arrangers on the deal.

The facilities consist of a $110 million five-year revolver and a $1.1 billion seven-year first-lien term loan, the source said.

Commitments are due at 5 p.m. ET on Sept. 27.

Proceeds will be used to help fund the buyout of the company by KKR from Paramount Global for $1.62 billion in an all-cash transaction.

Closing is subject to customary conditions, including regulatory approvals.

Simon & Schuster is a New York-based general interest publishing company.

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