Private Frazer’s Doomed Magazines

October 9, 2008

RB I can’t afford it

Filed under: consumer magazines — privatefraser @ 9:36 am
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From Tuesday’s FT

RBI sale appears uncertain.

The sale of media publisher Reed Business Information appeared uncertain on Tuesday amid difficulty in financing the deal.

Reed Elsevier originally offered so-called “staple” finance of $1.26bn (£685m) in three separate packages and on slightly different terms, from a consortium of seven banks led by UBS.

Staple financing is a pre-arranged package offered to potential bidders in an acquisition. The financing is arranged by the investment bank advising the selling company.

Two banks are questioning their ability to lend, according to people familiar with the situation. The lending banks include BNP Paribas, JPMorgan, Lloyds and Calyon.

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