Pandora Media’s $200 Million Asset-Based Credit Facility


Paul Hastings LLP advised Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A., and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint book runners with respect to financing provided to Pandora Media, Inc.

The financing consisted of a $200 million asset-based revolving credit facility (with the potential for an incremental increase of up to $50 million), the proceeds of which were used to refinance existing debt. Pandora Media is a music streaming and automated recommendation service.

Pandora Media Inc. provides radio services through the internet. The Company, led by Gregory B Maffei, Roger J Lynch and Naveen Chopra offers radio stations available to stream on computers and mobile phones.

The Paul Hastings team was led by partner Jennifer Yount (Picture), along with partners Yariv Katz and Jane Song, as well as associates Lauren Loyd, Todd Schneider, Melissa Fishkin, and Timothy Hughes.

Involved fees earner: Jennifer St. John Yount – Paul Hastings; Lauren Loyd – Paul Hastings; Tim Hughes – Paul Hastings; Jane Song – Paul Hastings; Todd Schneider – Paul Hastings; Yariv Katz – Paul Hastings; Melissa Fishkin – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Wells Fargo; JPMorgan Chase & Co.; Morgan Stanley Senior Funding, Inc.;

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Author: Ambrogio Visconti