Daily News: January 5, 2018

Wells Fargo Agents $200MM Facility for Pandora Media

Pandora Media closed a $200 million credit facility with Wells Fargo as administrative agent.

According to a related 8-K filing, JPMorgan Chase, Morgan Stanley Senior Funding and Wells Fargo were joint lead arrangers and joint bookrunners.

The lenders committed a secured revolving credit facility of up to $200 million with the potential for a subsequent incremental increase of up to $50 million. Prior to entering into the credit agreement, the company terminated its previous credit facility, dated May 13, 2011. JPMorgan was administrative agent for the previous agreement.