Nexstar Media/Mission amendment to transition to SOFR fails

By Sara Rosenberg

New York, March 23 – Nexstar Media Inc. and Mission Broadcasting, Inc., both wholly owned subsidiaries of Nexstar Media Group Inc., failed to pass their negative consent amendment to shift their term loan debt to SOFR from Libor, according to a market source.

No credit spread adjustment had been offered.

BofA Securities Inc. was the lead on the deal.

Nexstar is a diversified media company.

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