SourceMedia to launch $170 million credit facility on Wednesday

By Sara Rosenberg

New York, Jan. 4 - SourceMedia Inc. is scheduled to hold a bank meeting on Wednesday to launch its proposed $170 million credit facility, according to a market source.

Citigroup, GE Capital and BMO are the lead banks on the deal, with Citi the left lead.

The facility consists of a $25 million revolver and a $145 million term loan, the source said.

Proceeds will be used to refinance existing debt.

SourceMedia, an Investcorp company, is a New York-based provider of news, analysis, research, data and insights for members of the financial services community and related fields in professional services and technology.

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