New Issue: LBI Media $40 million proceeds 10-year discount notes yield 11%

By Paul A. Harris

St. Louis, Oct. 3 - LBI Media Holdings, Inc. sold $68.428 million principal amount of senior discount notes due Oct. 15, 2013 at 58.456 on Friday to yield 11%, according to a syndicate source.

Price talk was for a yield of 10¾%-11%. Proceeds from the deal were $40 million.

Credit Suisse First Boston and UBS Investment Bank were bookrunners on the Rule 144A deal. Fleet Securities was the co-manager.

The Burbank, Calif.-based privately held Spanish language radio and television operator will use proceeds to repay part of its senior credit facility.

Issuer:	LBI Media Holdings, Inc.
Amount sold:	$68.428 million
Proceeds:	$40 million
Maturity:	Oct. 15, 2013
Security description:	Senior discount notes
Bookrunners:	Credit Suisse First Boston, UBS Investment Bank
Co-managers:	Fleet Securities
Coupon:	0%/11%
Price:	58.456
Yield to Maturity:	11%
Spread:	681 basis points over 4¼% Treasury due August 2013
Call features:	Callable after Oct. 15, 2008 at 105.50, then 103.66, 101.833, declining to par on Oct. 15, 2011 and thereafter
Equity clawback:	Until Oct. 15, 2006 at 111 for up to 40%
Settlement Date:	Oct. 10 (T+5)
Ratings:	Not rated
Rule 144A Cusip:	52109AAA6
Price talk:	10¾%-11%

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