Key3Media Group Makes Additional $11 Million Prepayment On Senior Bank Debt

Business Wire,  Dec 5, 2000  

• E-mail
• Print
• Link

Business & High-Tech Editors

LOS ANGELES, CA--(BUSINESS WIRE)--December 5, 2000

Key3Media Group, Inc. (NYSE: KME), the world's leading producer of information technology tradeshows and conferences, today announced that it has made an additional $11 million prepayment on its term loan facility. Since August, the Company has made prepayments totaling $30 million, reducing its outstanding senior bank debt to $300 million.

Key3Media entered into a definitive credit agreement with Morgan Stanley Senior Funding, Inc. for a $330 million term loan facility on August 18, 2000, concurrently with its spin-off from Ziff Davis Inc. (NYSE: ZD) and its simultaneous public offering of common stock.

Fredric D. Rosen, Chairman and CEO of Key3Media Group, Inc., stated, "Key3Media's business continues to deliver strong cash flows, enabling the company to prepay nearly 10% of its outstanding senior bank debt in less than four months."

Key3Media is the world's leading producer of information technology tradeshows and conferences, serving more than 6,000 exhibiting companies and two million attendees through 60 events in 18 countries. Key3Media's products range from the IT industry's largest exhibitions such as COMDEX and NetWorld+Interop to highly focused events featuring renowned educational programs, custom seminars and specialized vendor marketing programs. For more information about Key3Media, visit www.key3media.com.

COPYRIGHT 2000 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning