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BtoB

Cygnus Business Media lines up $220 million in financing

Published on .

Norwalk, Conn.—GE Commercial Finance Global Media & Communications announced it has arranged a $220 million senior debt facility for Westport, Conn.-based Cygnus Business Media.

GE Commercial Finance committed to and underwrote two-thirds of the facility, with Union Bank of California underwriting the remainder.

In the b-to-b media recession of the past three years, Cygnus has been one of the few consistent acquirers.

“We are pleased to have designed and delivered a financing solution so well fitted to Cygnus’ needs and goals,” said David Vander Lugt, senior VP at GE Commercial Finance.

—Sean Callahan

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