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Time Inc.'s High‑Yield Senior Notes Offering and Senior Secured Credit Facilities

Cravath represented Time Inc. in connection with debt financing transactions in excess of $1 billion in the form of high‑yield senior notes and amended and restated senior secured credit facilities. Proceeds of the new indebtedness will be used to refinance existing indebtedness. Time Inc. is a leading multi‑platform consumer media company that engages over 170 million consumers globally every month. Time’s influential brands include People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living and Travel + Leisure, as well as approximately 60 diverse international brands. The transaction closed on October 11, 2017.

The Cravath team included partner Joseph D. Zavaglia and associates Isaac C. Beerman, Jennifer Uren and Jessie Chiang. Samuel A. Lifton also worked on this matter.