LodgeNet to use stock sale proceeds to repay 11% notes, term loan

Pittsburgh, June 16 - LodgeNet Entertainment Corp. will use the projected $69.8 million in proceeds from its offering of 3.95 million shares of its common stock to repay the $12 million outstanding principal amount of its 11½% senior notes and to repay $44.5 million of the term loan portion of its senior credit facility, according to a filing with the Securities and Exchange Commission.

The stock sale has a 592,500 share greenshoe.

UBS Securities LLC is the bookrunning manager for the stock offering.

LodgeNet is a Sioux Falls, S.D.-based provider of interactive television systems and broadband services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.