Nexstar to amend bank debt, cutting revolver, refinancing term loan

New York, April 5 - Nexstar Broadcasting Group, Inc. said subsidiaries Nexstar Broadcasting, Inc. and Mission Broadcasting, Inc. plan to amend each of their senior credit facilities as part of a series of refinancing transactions.

The amended facilities will see the revolving portion cut to a total of $75 million, divided between the two subsidiaries, and the term loan B refinanced for a total of $100 million.

Nexstar is making the changes as part of a refinancing that also includes the issuance of $325 million of senior secured second lien notes. Proceeds from the notes along with credit facility borrowings will be used to repurchase Nexstar's 13% senior subordinated payment-in-kind notes due 2014, to refinance the existing credit facilities, to pay fees and expenses, and for general corporate purposes.

Nexstar is an Irving, Texas, television broadcaster

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