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Allbritton Communications $180 million add-on talked at 7 7/8%-8%
By Paul A. Harris
St. Louis, Jan. 27 - Price talk is 7 7/8%-8% on Allbritton Communications' planned $180 million add-on to its 7¾% senior subordinated notes due Dec. 15, 2012 (B3/B-), according to a syndicate source.
The deal is expected to price Tuesday.
Deutsche Bank Securities Inc. is the bookrunner. Fleet Securities is the co-manager.
The notes are callable on Dec. 15, 2007 at 103.875, on Dec. 15, 2008 at 102.583, on Dec. 15, 2009 at 101.292 and at par on Dec. 15, 2010 and thereafter, and contain an equity clawback until Dec. 15, 2005 for 35% at 107.75.
Proceeds from the Rule 144A will be used to redeem the 8 7/8% notes due 2008.
The original $275 million deal priced on Dec. 6, 2002 at par.
The issuer is a Washington, D.C.-based television company.
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