Allen Media revises $530 million term loan B discount to 99.5

By Sara Rosenberg

New York, Feb. 6 – Allen Media Group Holdings tightened the original issue discount on its $530 million seven-year term loan B to 99.5 from 99, according to a market source.

Pricing on the term loan remained at Libor plus 550 basis points with a 0% Libor floor.

The term loan has 101 soft call protection for six months and 50 bps MFN for life.

The company’s $555 million of credit facilities (Ba3/BB-) also include a $25 million five-year revolver.

RBC Capital Markets is the left lead on the deal.

Proceeds will be used to help fund the acquisition of 11 broadcast television stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC, and to refinance existing debt.

Other funds for the transaction will come from $300 million of eight-year senior notes.

Allen Media is a media, content and technology company.

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