Time Inc.’s $1 Billion High?Yield Senior Notes Offering and Senior Secured Credit Facilities

Cravath represented Time Inc. in connection with debt financing transactions in excess of $1 billion in the form of high?yield senior notes and amended and restated senior secured credit facilities.

Proceeds of the new indebtedness will be used to refinance existing indebtedness. Time Inc. is a leading multi-platform consumer media company that engages over 170 million consumers globally every month. Time’s influential brands include People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living and Travel + Leisure, as well as approximately 60 diverse international brands. The transaction closed on October 11, 2017.

The Cravath team included partner Joseph D. Zavaglia (Picture) and associates Isaac C. Beerman, Jennifer Uren and Jessie Chiang. Samuel A. Lifton also worked on this matter.

 

Involved fees earner: Joseph Zavaglia – Cravath Swaine & Moore; Isaac Beerman – Cravath Swaine & Moore; Jennifer Uren – Cravath Swaine & Moore; Jessie Chiang – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Time inc.;

 

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Author: Ambrogio Visconti