Maturity, structure emerge on Emmis $350 million eight-year notes offering

By Paul A. Harris

St. Louis, April 21 - Structure and maturity emerged Wednesday on a $350 million senior subordinated notes offering from Emmis Operating Co., according to a market source.

The bonds will have an eight-year term and will be non-callable for four years.

The roadshow starts Friday, with pricing expected on April 28.

Goldman Sachs & Co., Deutsche Bank Securities, Banc of America Securities and Credit Suisse First Boston are joint bookrunners on the Rule 144A offering.

The company is also obtaining a new $1 billion senior credit facility.

Proceeds will be used to repay bank debt, repurchase or redeem Emmis Operating Co. subordinated notes and all or a portion of the Emmis Communications senior discount notes.

The issuer is a wholly owned subsidiary of Emmis Broadcasting Corp., an Indianapolis-based diversified media firm with radio broadcasting, television broadcasting and magazine publishing operations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.