LBI Media announces new $20 million notes offer in conjunction with exchange deal

By Paul A. Harris

Portland, Ore., Nov. 21 – LBI Media, Inc. announced on Friday that it plans to issue $20 million of new notes in conjunction with several exchange offers and consent solicitations for some of its existing notes series.

The company is offering to exchange its outstanding $142 million principal amount of 11½%/13½% PIK toggle second-priority secured subordinated notes due 2020 for new 11½%/13½% PIK toggle second-priority secured subordinated notes due 2020, series II.

LBI Media is also commencing related consent solicitations for these series of notes.

Both exchange offers and all of the consent solicitations expire on Dec. 18.

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

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