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LBI Media to sell $225 million new 10-year senior subordinated notes to refinance 10 1/8% notes
By Paul A. Harris
St. Louis, June 21 - LBI Media, Inc., announced on Thursday that it plans to place $225 million of 10-year senior subordinated notes.
Credit Suisse is expected to emerge as the bookrunner for the Rule 144A deal, which is anticipated as June business, market sources told Prospect News.
Proceeds will be used to refinance the company's 10 1/8% notes due 2012, to repay bank debt and for general corporate purposes.
LBI Media is a Burbank, Calif.-based operator of Spanish-language radio and television stations.
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