Townsquare Radio plans to start roadshow Wednesday for $265 million seven-year notes

By Paul A. Harris

Portland, Ore., March 27 - Townsquare Radio, LLC and Townsquare Radio, Inc. will begin a roadshow on Wednesday for a $265 million offering of seven-year senior notes, according to a syndicate source.

A global investor call is set to take place at 12:30 p.m. ET on Wednesday.

The deal is expected to price late this week.

Bank of America Merrill Lynch is the left bookrunner. Macquarie Capital, RBC Capital Markets and SunTrust Robinson Humphrey are the joint bookrunners.

ING and UBS Investment Bank are the co-managers.

The Rule 144A and Regulation S for life notes come with a make-whole call at Treasuries plus 50 bps for the first three years and then become callable at a premium.

Credit ratings remain to be determined.

Proceeds will be used to repay some outstanding debt of subsidiaries.

The prospective issuer is a Greenwich, Conn.-based owner and operator of FM and AM radio stations and websites serving small and mid-sized markets throughout the United States.

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