Allen Media begins marketing $340 million tap of 10½% notes due 2028

By Paul A. Harris

Portland, Ore., July 21 – Allen Media LLC and Allen Media Co-Issuer Inc. began marketing a $340 million add-on to their 10½% senior notes due Feb. 15, 2028 (existing ratings Caa1/B-) on Wednesday, according to a syndicate source.

The deal will be shopped on a live question and answer session with management beginning at 1 p.m. ET on Thursday.

The offering is expected to price on July 27.

Bookrunner RBC Capital Markets LLC will bill and deliver.

The notes become callable on Feb. 15, 2023 at 107.875.

The Los Angeles-based media content and technology company plans to use the proceeds to fund acquisitions, including the KITV designation.

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