Nexstar Sets $1.12B Offering Of Senior Notes

Nexstar Media Group announced today that it will offer up to $1.12 billion in new senior notes due 2027 to pay for its purchase of Tribune Media.

On Nov. 30, 2018, Nexstar and Tribune Media entered into a definitive merger agreement whereby Nexstar will acquire all outstanding shares of Tribune.

Nexstar said it “intends to use the net proceeds from the proposed offering, together with borrowings under future secured indebtedness, to fund its proposed acquisition of Tribune, to partially fund the repayment of all of Tribune’s existing indebtedness, to pay other fees and expenses related to Nexstar’s acquisition of Tribune and the related refinancing and for general corporate purposes.”