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Mission Broadcasting talks $300 million term B at Libor plus 275 bps
By Sara Rosenberg
New York, May 25 – Mission Broadcasting Inc. launched on Tuesday its $300 million term loan B (Ba2/BBB-) with price talk of Libor plus 275 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
BofA Securities Inc. is the lead on the deal.
Commitments are due at 11 a.m. ET on Thursday, the source added.
Proceeds will be used to repay some revolving credit facility borrowings.
Mission Broadcasting is a Wichita, Falls, Tex.-based television broadcasting company.
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