LBI Media to redeem 10 1/8% notes, repay revolver with new bond proceeds

By Susanna Moon

Chicago, June 21 - LBI Media, Inc. said that it plans to redeem its 10 1/8% senior subordinated notes due 2012 and repay borrowings under its revolving credit facility.

The company said it would use the proceeds from an offering of $225 million in senior subordinated notes due 2017.

Any remaining proceeds will be used for general corporate purposes.

LBI Media, based in Burbank, Calif., owns and operates Spanish language radio and television stations.

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