LBI Media to use proceeds from $240 million notes offering to pay debt

By Toni Weeks

San Diego, March 7 - LBI Media Inc., a subsidiary of LBI Media Holdings, Inc., will use the proceeds of its offering of $240 million senior secured notes due 2019 announced Monday to repay all debt under its existing senior secured credit facilities, according to a company press release.

The company also said it intends to enter into a new revolving credit facility of up to $50 million.

Based in Burbank, Calif., LBI Media is a Spanish-language entertainment company.

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