LBI Media to repay bank debt with $40 million proceeds notes

St. Louis, Oct. 3 - LBI Media Holdings, Inc. plans to repay part of its senior credit facility with proceeds from an offering of $68.428 million principal amount of 10-year senior discount notes.

The transaction raised proceeds of $40 million and was priced to yield 11%.

LBI Media is a privately held Spanish language radio and television operator based in Burbank, Calif.

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