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Meredith to sell $1.4B in debt to finance Time buyout

Published 01/08/2018, 04:35 PM
© Reuters.  Meredith to sell $1.4B in debt to finance Time buyout
  • Meredith (NYSE:MDP) plans to sell $1.4B in senior notes to finance its $1.85B acquisition of Time Inc . (NYSE:TIME), Bloomberg notes.
  • The company's selling that amount in senior debt due 2026 and will use that along with an equity contribution from Koch Equity Development and a term loan to finance the deal.
  • The Kochs were said to provide $650M in financing, though Meredith has been quick to note that the conservative billionaire brothers wouldn't have an influence on editorial or managerial operations at Time brands.
  • Now read: Weekly CEF Roundup: CEFs Bucking The Market Trend


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