Media General launches $75 million add-on term loan at 99½ OID

By Sara Rosenberg

New York, Aug. 8 – Media General Inc. held a call at 10 a.m. ET on Friday to launch a fungible $75 million add-on term loan that is talked at Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99½, according to a market source.

RBC Capital Markets is the lead bank on the deal.

Commitments are due on Aug. 15, the source said.

Proceeds will be used to help fund the acquisition of WHTM TV, an ABC affiliate in Harrisburg, Pa., currently owned by Allbritton Communications, for $83.4 million in cash.

Media General is a Richmond, Va.-based local television broadcasting and digital media company.

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