New York, May 14, 2013 -- Moody's Investors Service has placed the ratings for Advanstar Communications, Inc. ("Advanstar" or "the Company") on review for upgrade following its plan to raise capital to refinance all existing existing debt. In conjunction with the refinancing, ENK International Holdings, Inc. ("ENK") will become a wholly-owned subsidiary of the Company and part of the rated entity. Advanstar plans to issue $475 million of new 1st and 2nd lien bank debt which will be combined with $95 million of new preferred equity financing from parent Advanstar Global LLC ("Advanstar Global") to repay $480 million of debt at Advanstar Communications and $73 million of debt at ENK and for the transaction's related fees and expenses.

Vollständigen Artikel bei Moodys lesen