Media General talks $350 million seven-year notes at 10½%-10¾% with about 2 points OID

By Paul A. Harris

St. Louis, Feb. 4 - Media General, Inc. talked its $350 million offering of seven-year senior secured notes (/B/) at 10½% to 10¾% with about 2 points of original issue discount on Thursday, according to an informed source.

The books close at 11 a.m. ET on Friday, and the notes are expected to price thereafter.

Bank of America Merrill Lynch and SunTrust Robinson Humphrey Inc. are joint bookrunners for the Rule 144A with registration rights offering. RBS Securities Inc., Scotia Capital and Daiwa Securities America Inc. are the co-managers.

The notes come with three years of call protection.

Proceeds will be used to repay bank debt.

Media General is a Richmond, Va.-based provider of news, information and entertainment across multiple media platforms.

© 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.