Nexstar Offering $275 Million In Senior Notes

It intends to fund yesterday’s announced purchase of five stations from Citadel Communications and Stainless Broadcasting and to repurchase outstanding 8.875% senior secured second lien notes due in 2017.

Nexstar Broadcasting Group announced today that it intends to offer, subject to market and other customary conditions, up to $275 million in aggregate principal amount of its 6.875% senior notes due 2020 in a private offering.

The company said the notes will have the same terms as, and are expected to be treated as a single class with, Nexstar Broadcasting’s $250 million in aggregate principal amount of 6.875% senior notes due 2020 issued on Nov. 9, 2012. The notes will be senior unsecured obligations of Nexstar Broadcasting and will be guaranteed by the company and Mission Broadcasting Inc.

Nexstar said it intends to use the net proceeds from the proposed offering, together with the proceeds from a proposed incremental amendment to its and Mission’s existing senior secured credit facilities and cash on hand, to repurchase any and all of its and Mission’s outstanding 8.875% senior secured second lien notes due 2017, to fund its and Mission’s proposed acquisition of five television stations in four markets from Citadel Communications and Stainless Broadcasting, to pay related fees and expenses and for general corporate purposes.


Comments (2)

Leave a Reply

Jay Miller says:

September 17, 2013 at 11:27 am

Who would invest in them???

Keith ONeal says:

September 17, 2013 at 9:03 pm

What the hell is senior notes?


More News