Allen Media talks $340 million tap of 10½% notes due 2028 at par to 101; pricing Wednesday

By Paul A. Harris

Portland, Ore., July 27 – Allen Media LLC and Allen Media Co-Issuer Inc. talked a $340 million add-on to their 10½% senior notes due Feb. 15, 2028 (existing ratings Caa1/B-) at par to 101, according to a syndicate source.

Books close at 1 p.m. ET on Thursday, and the Rule 144A deal is set to price thereafter.

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.

The original $300 million issue priced in February 2020.

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