EMI Group Said to Plan $1 Billion Loan to Refinance, Fund Payout

EMI Group, the music-publishing business, is gearing up to sell a $1.12 billion loan that’ll help refinance debt and pay a dividend, according to a person with knowledge of the financing.

UBS Group AG and Goldman Sachs Group Inc. are arranging the transaction, scheduling a call with potential lenders for Thursday, said the person, who asked not to be identified because the deal is private.

Citigroup Inc. sold EMI’s publishing division for $2.2 billion to a group led by Sony Corp., the Tokyo-based electronics maker and entertainment producer, in 2012.

Paul Williams, a spokesman for Sony/ATV, Sony’s U.S.-based joint venture in music publishing, declined to provide a comment.

Citigroup had seized EMI, known for being the record label that signed the Beatles, from Guy Hands’s private-equity firm Terra Firma Capital Partners in February 2011 after it failed to meet loan terms. The bank sold the company’s recording division to Vivendi SA’s Universal Music Group the following year.

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