Mission Broadcasting flexes $300 million term B to Libor plus 250 bps

By Sara Rosenberg

New York, May 27 – Mission Broadcasting Inc. reduced pricing on its $300 million term loan B (Ba2/BBB-) to Libor plus 250 basis points from Libor plus 275 bps, according to a market source.

In addition, the original issue discount on the term loan was changed to 99.5 from 99, the source said.

As before, the term loan has a 0% Libor floor and 101 soft call protection for six months.

BofA Securities Inc. is the lead on the deal.

Proceeds will be used to repay some revolving credit facility borrowings.

Mission Broadcasting is a Wichita, Falls, Tex.-based television broadcasting company.

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