LBI Media increases revolver size by $20 million

By Sara Rosenberg

New York, Aug. 16 - LBI Media Inc. increased the size of its revolving credit facility due Sept. 30, 2010 to $195 million from $175 million effective Aug. 11, according to a 10-Q filed with the Securities and Exchange Commission on Monday.

The company had about $114.3 million outstanding under its senior credit facility as of June 30. However, the company has repaid $2.7 million and borrowed an additional $21.7 million under the revolver since June 30.

The company also plans to repay about $18.5 million of the outstanding principal amount under its senior credit facility, plus accrued and unpaid interest, with a portion of the proceeds from Liberman Broadcasting Inc.'s initial public offering of class A common stock.

LBI Media is a Burbank, Calif., owner and operator of radio and television stations.

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