Keith Kelly of the New York Post writes that Forbes is looking to refinance a $50 million loan that is due to be paid off this summer.
Kelly writes, “None of the half-dozen banks that handled the restructuring want to be involved again, sources said.
“The current refinancing is said to be shepherded by the PrinceRidge Group, a midsize New York investment bank.
“In a 2006 deal, Elevation Partners, headed by U2 frontman Bono and Silicon Valley investor Roger McNamee, took a 45 percent stake in the company — and clearly the investment has not panned out the way investors had hoped.
“Elevation paid $237.2 million in cash in August 2006, according to a report in rival Fortune last year.
“A PrinceRidge spokesman declined to comment on the latest talks.
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