Nexstar to start roadshow Tuesday for $325 million seven-year notes

By Paul A. Harris

St. Louis, April 5 - Nexstar Broadcasting, Inc. and Mission Broadcasting, Inc. will begin a brief roadshow on Tuesday for a $325 million offering of seven-year senior secured second-lien notes, according to an informed source.

The roadshow wraps up Thursday, and the deal is expected to price afterwards.

Bank of America Merrill Lynch, UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets are joint bookrunners for the Rule 144A with registration rights offer. Credit Agricole is the lead manager.

The notes come with four years of call protection.

Credit ratings remain to be determined.

Proceeds, together with borrowings under Nexstar's and Mission's amended senior secured credit facilities, and cash on hand, will be used to repurchase Nexstar's outstanding senior subordinated PIK notes, to refinance the Nexstar and Mission credit facility, and for general corporate purposes.

Nexstar Broadcasting is an Irving, Tex.-based company which operates television stations in medium-sized U.S. markets.

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