Allen Media starts roadshow for $300 million eight-year notes

By Paul A. Harris

Portland, Ore., Jan. 29 – Allen Media, LLC and Allen Media Co-Issuer, Inc. began a roadshow for a $300 million offering of eight-year senior notes (B-) on Wednesday, according to market sources.

Initial price talk has the deal coming to yield in the low-to-mid 10% area.

A global investor conference call is scheduled to get underway at 1 p.m. ET on Thursday.

The roadshow runs through the middle part of the Feb. 3 week.

Left lead bookrunner RBC Capital Markets LLC will bill and deliver for the Rule 144A and Regulation S offering.

The notes become callable after three years at par plus 50% of the coupon.

The Los Angeles-based media content and technology company plans to use the proceeds to help fund the acquisition of 11 broadcast television stations from USA Television Holdings LLC and USA Television MidAmerica Holdings LLC, and to refinance debt.

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