Nexstar Closes on Senior Note Offering

By on Jul, 27 2016 with Comments 0

Nexstar Broadcasting GroupNexstar Broadcasting said its subsidiary Nexstar Escrow Corporation has closed on a private offering of $900 million in new senior notes.

The aggregate principal was 5.625% and the notes are due 2024; they priced at par.

The offering was previously announced.

Nexstar intends to use the proceeds, together with borrowings under future secured indebtedness, cash proceeds from spins of certain stations assets and the issuance of new common stock to fund its acquisition of Media General to repay Nexstar credit facilities, pay down debt and pay other fees related to the acquisition.

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