Skip to content
Subscriber Only

Time Said to Seek $900 Million Debt Typical of Junk Loans

Time Inc., the publisher of the namesake magazine whose first issue ran in 1923, is seeking a type of loan typically issued to investors that buy junk-rated debt as it prepares to be spun off from its parent.

The worst-performing unit of Time Warner Inc. wants $900 million of financing in the form of a so-called term loan B, a type of debt typically sold by companies with speculative-grade ratings, according to a person with knowledge of the deal, who asked not to be identified without authorization to speak publicly. Citigroup Inc. is arranging the transaction and is hosting a meeting with potential lenders at 10 a.m. tomorrow at Time Warner’s headquarters in New York, the person said.