Nexstar plans to sell $250 million seven-year notes Wednesday

By Paul A. Harris

Portland, Ore., Jan. 21 – Nexstar Broadcasting, Inc. plans to price a $250 million offering of seven-year senior notes (expected ratings B3/B+) Wednesday afternoon, according to a syndicate source.

An investor conference call was scheduled to get underway at 11:30 a.m. ET Wednesday morning.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A for life offering. Deutsche Bank Securities Inc., RBC Capital Markets Corp., Morgan Stanley & Co. LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

Barclays, Credit Suisse Securities (USA) LLC and RBS Securities Inc. are the co-managers.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 40% equity clawback at par plus the coupon.

The Irving, Texas-based diversified media company plans to use the proceeds to fund the proposed acquisitions of three television stations.

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