Cox Media Group wraps $2.154B term loan repricing at talk; terms

Cox Media Group Inc. has completed the repricing of its roughly $2.01 billion term loan B and its $150 million term loan B-1 that will be combined into a single $2.154 billion tranche due December 2026, according to sources. The term loan priced tight of initial talk at L+350, with a 0% Libor floor and an issue price of par via lead arranger RBC Capital Markets. The transaction lowers the spread on the existing term loans from L+425, with a 0% Libor floor. The borrower is Terrier Media Buyer Inc. Atlanta-based Cox Media Group operates 33 television stations in 20 markets and 54 radio stations in 10 markets. Terms: