New Issue: LBI Media downsizes 10-year notes to $150 million, yield 10 1/8%

By Paul A. Harris

St. Louis, Mo., June 28 - LBI Media, Inc. priced $150 million of senior subordinated notes due July 15, 2012 (B3/B-) at par Friday to yield 10 1/8%, according to syndicate sources.

The size of the deal had originally been announced at $200 million.

Price talk was 9% area.

Credit Suisse First Boston and UBS Warburg were joint bookrunners. Fleet Securities, Banc of America Securities and CIBC World Markets were the co-managers.

Proceeds from the Rule 144A deal will be used to repay existing debt, to fund pending acquisitions and for general corporate purposes.

The issuer is a Los Angeles-based Spanish language radio and TV operator.

Issuer:	LBI Media, Inc.
Amount:	$150 million
Maturity:	July 15, 2012
Type:	Senior subordinated notes
Boorkunners:	Credit Suisse First Boston, UBS Warburg (joint)
Co-managers:	Fleet Securities, Banc of America Securities, CIBC World Markets
Coupon:	10 1/8%
Price:	Par
Yield:	10 1/8%
Price talk:	9% area
Spread:	534 basis points over the 4 7/8% Treasury due Feb. 2012
Call features:	Callable on July 15, 2007 at 105.063, 103.375, 101.688, par on July 15, 2010 and thereafter
Equity clawback:	Until July 15, 2005 at 110.125% for up to 35%
Settlement date:	July 9, 2002 (T+6)
Payment dates:	Jan. 15 and July 15, commencing Jan. 15, 2003
Ratings:	Moody's: B3
	Standard & Poor's: B-
Rule 144A CUSIP:	501786AA5

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