Tegna Announces Pricing Of $550M Of Senior Notes
Tegna Inc. announced Tuesday that it has priced its previously announced offering of senior notes due 2026.
The face value of the notes is $550 million, with an interest rate of 4.750%. The notes were priced at 100% of face value. Subject to certain exceptions, the notes may not be redeemed by the company prior to March 15, 2023. The notes will be guaranteed on a senior basis by certain subsidiaries of the company.
Tegna said it intends to use the net proceeds from this offering to repay the entire $350 million aggregate principal amount of its 4.875% senior notes due 2021 and $188 million aggregate principal amount of its 5.500% senior notes due 2024 and the redemption premium on its 5.500% senior notes due 2024.