Wells Fargo Bank, JPMorgan Chase Bank, and Morgan Stanley Serve as Lead Arrangers on Pandora Media’s Asset-Based Credit Facility
January 09, 2018
New York – Paul Hastings LLP, a leading global law firm, announced today that the firm advised Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A., and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint book runners with respect to financing provided to Pandora Media, Inc. The financing consisted of a $200 million asset-based revolving credit facility (with the potential for an incremental increase of up to $50 million), the proceeds of which were used to refinance existing debt. Pandora Media is a music streaming and automated recommendation service.
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