Daily News: April 28, 2014

JPMorgan Chase Arranges $144MM Wenner Media Refi

Bloomberg reported that Wenner Media, the publisher of Rolling Stone magazine, is seeking to refinance a $144 million term loan, extending the maturity and lowering the interest-rate margin, citing a person with knowledge of the transaction.

Bloomberg reported that the source, who asked not to be identified, said JPMorgan Chase is arranging the deal, which is due in May 2019. JPMorgan Chase will host a lender meeting April 29, the article noted. The refinancing will save the company about $6 million in annual interest expense, Moody’s Investors Service said in a report.

To read the entire Bloomberg article, click here.