NEW YORK Jan 11 (Reuters LPC) - Jefferies is leading a
$180 million term loan backing a bid by founder Hugh Hefner to
take Playboy Enterprises Inc PLA.N private, banking sources
told Thomson Reuters LPC on Tuesday.
The launch date for the term loan has not yet been
determined, said the sources, who declined to be identified
because the deal is private.
Icon Acquisition Holdings LP, which Hefner controls, plans
to buy Playboy's shares along with Rizvi Traverse Management
LLC. Playboy has about $115 million in debt.
The transaction values the company at about $207 million,
or $6.15 a share.
Shares of Playboy rose 17 percent on Monday following the
deal's announcement, to $6.09 a share. They were unchanged in
Tuesday trading on the New York Stock Exchange.
Hefner owns about 70 percent of Playboy's Class A common
stock and 28 percent of its Class B stock.
Playboy has been publicly traded since 1971. It was founded
by Hefner in 1953 with $600.