Providence Equity Seeks Payout

J.P. Morgan and Fleet Securities are in the market with a $75 million second-lien term loan for F+W Publications. Proceeds are being used to fund a dividend for equity sponsor Providence Equity Partners.

  • 09 Apr 2004
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J.P. Morgan and Fleet Securities are in the market with a $75 million second-lien term loan for F+W Publications. Proceeds are being used to fund a dividend for equity sponsor Providence Equity Partners. The loan is priced at LIBOR plus 51/2%. Providence Equity acquired F+W in partnership with William Reilly, former Primedia ceo, and management in February 2002. F+W publishes special interest consumer books and magazines. Michael Angelakis, managing director with Providence Equity, Michael Dominguez, a principal with Providence Equity, and Mark Arnett, F+W's executive v.p. and cfo, did not return calls.

 

  • 09 Apr 2004

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