FMG closes senior stage of M&A loan

By Olivier Holmey
31 Jan 2014

Germany's Funke Mediengruppe has closed the senior syndication of €980m of loans supporting its acquisition of newspaper and magazine assets from fellow publisher Axel Springer.

The all-senior secured financing consists of €880m of term loans and a €100m revolver. Funke Medien launched the syndication in late November 2013.

Axel Springer announced the sale in July. But the acquisition, which would make FMG Germany’s largest publisher of regional newspapers and TV guides, has since ...

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