Reed offers load to aid magazine sale

<p>Reed Elsevier is organising a consortium of banks to lend more than &pound;750m to the eventual buyer of its &pound;1.25bn trade magazine division, in an effort to ensure the business is sold in one piece, despite the credit crisis, reports the <em>Daily Telegraph</em>.</p><p>UBS, BNP Paribas, JP Morgan, GE, Bank of Ireland and Lloyds TSB are among those expected to join the consortium to provide so-called &quot;stapled finance&quot; for the sale of Reed Business Information, which owns titles such as Publishers Weekly, New Scientist and Variety.</p><p>According to the newspaper, Reed is resisting widespread pressure from buyers to break up its business magazines division - which has a portfolio of over 100 publications and events across 18 markets - into more bite-sized pieces.</p>