GE Commercial Finance Global Media & Communications announced today that it has arranged a $220 million senior debt facility for Westport-based Cygnus Business Media, a leading, diversified business-to-business media company. The facility closed July 13.
Cygnus Business Media has a portfolio of more than 200 media products reaching five million business professionals annually within 15 major markets.
The company has four divisions—Cygnus Publishing, Cygnus Expositions, Cygnus Interactive, and Cygnus Custom Marketing—with offerings including leading business publications, tradeshows, conferences, Web sites, online products, and custom marketing capabilities.
GE Commercial Finance committed to and underwrote two thirds of the facility with Union Bank of California underwriting the remainder, according to an announcement.
“Cygnus has delivered exceptional performance during a very challenging period for business-to-business media companies,” said Paul Mackler, president and chief executive officer, Cygnus Business Media.
