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Report: Investors Back $495M Refinancing Plan for EMI

Authored by Mark Hefflinger on July 30, 2009 - 8:14am.
London - Major record label EMI is set to receive $495 million in equity, through a deal worked out by parent company Terra Firma and its investors as a means of refinancing EMI's $4.3 billion debt, the Financial Times reported. Terra Firma, which acquired EMI for about $4.7 billion in 2007, is said to be working with Barclays, JP Morgan and Morgan Stanley on a plan to raise equity to repay Citigroup -- which helped finance Terra Firma's acquisition.
tags: Deals | Music | EMI | Investments | Citigroup | Morgan Stanley | Terra Firma | JP Morgan | Barclays |