The Guardian
trending topics
Close Box

Our news

Yes, it’s true: We are joining GigaOM...


Reed Raises Money, This Time For Itself

  • Comments Comments (View)
  • Text Size: A A

Reed Elsevier (NYSE: RUK), which recently went thorough a failed process of trying to sell off its B2B media division Reed Business Information, has put in place a $2 billion “forward start” credit facility from a syndicate of 19 banks, starting May 2010 and maturing May 2012. A forward start is an agreement between a borrower and its lenders that allows the borrower the option to draw down on a new loan facility when an existing loan expires. Its existing $3 billion revolving credit facility, which matures May 2010, has been reduced in size to $2.5 billion to reflect Reed Elsevier’s lower short-term borrowing needs, reported DJN. Analysts had raised doubts about the company’s ability to pay off its debts after it failed to offload RBI last year. This should help allay some fears, at least for now. No indication yet that RBI or any of its constituent brands (including Variety) may come back on the market anytime soon. Some more details in release.

Feb 17, 2009 5:52 AM ET

Posted In: Countries, Europe, reed elsevier

(Page 1 of 1)


The Bestsellers

From iTunes and YouTube to Facebook and Kindle, the most popular content on the web, free and paid.

Android Apps (Free) Android Apps (Free)
1. Facebook for Android
2. Pandora® internet radio
3. Angry Birds
4. Words With Friends Free
5. Voxer Walkie-Talkie PTT
See The Other Bestsellers »

Jobs RSS Job Listings

Social Standing

Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?

"Sentiment" Scores for All the Companies »

Sponsors

Staff