Simon & Schuster plans $1.1 billion term loan for buyout by KKR

By Sara Rosenberg

New York, Aug. 9 – Simon & Schuster is planning to get a roughly $1.1 billion term loan to help fund its acquisition by KKR from Paramount Global, according to a market source.

In addition to the term loan, the company is planning to get a new revolving credit facility.

Timing on the launch of the credit facilities is still to be determined, the source said.

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

Under the agreement, Simon & Schuster is being bought 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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