Bloomberg reported that RDA Holding, the publisher of Reader’s Digest magazine, won final court approval to borrow $105 million from a group of lenders while it reorganizes in bankruptcy protection.

The financing, arranged by Wells Fargo Principal Lending as administrative agent, includes a $45 million term loan, $11 million of which was approved on an interim basis last month; a refinancing term loan of $49.6 million and $9.5 million in letters of credit that are outstanding under its current credit agreement, Bloomberg said, citing court papers.

To read the entire Bloomberg story, click here.

Previously on
Reader’s Digest Brand is Key to Strategy in Bankruptcy, Tuesday, February 19, 2013