National Amusements intends to start roadshow Monday for $390 million seven-year secured notes

By Paul A. Harris

St. Louis, Nov. 23 - National Amusements, Inc. will begin a roadshow on Monday in Boston for its $390 million offering of seven-year senior secured notes, according to an informed source.

The roadshow moves to New York City on Tuesday.

Subsequent stops include Los Angeles on Dec. 1 and San Francisco on Dec. 2.

Pricing is set for Dec. 2 or Dec. 3.

Barclays Capital Inc. has the books for the Rule 144A and Regulation S for life offering.

The notes, which will be issued via NAI Entertainment Holdings LLC, come with three years of call protection. However, a special call provision allows the company to call up to 10% of the issue annually at 103 during the non-call period.

The notes, which come with standard high-yield covenants, are secured by a first-priority lien on all shares of Viacom class A common stock (14.3 million shares) and CBS class A common stock (14.1 million shares) owned by NAI Entertainment Holdings. The notes are also secured by a second-priority lien on substantially all other assets.

Credit ratings remain to be determined.

The Norwood, Mass.-based privately held media and entertainment company will use the proceeds to refinance its credit facility.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.