Nexstar Announces $1 Billion Offering

Nexstar Media Group announced today that its wholly-owned subsidiary, Nexstar Broadcasting, intends to offer, subject to market and other customary conditions, up to $1 billion in aggregate principal amount of new senior notes due 2028 in a private offering. The notes will be Nexstar’s senior unsecured obligations and will be guaranteed by the company, Mission Broadcasting Inc. and “certain of Nexstar’s and Mission’s existing and future restricted subsidiaries on a senior unsecured basis.” Nexstar said it intends to use the proceeds to redeem all of its 5.625% senior unsecured notes due 2024, with the remainder to be used for "general corporate purposes."