Entravision tenders for 8 1/8% notes due 2009

By Jennifer Chiou

New York, Aug. 10 - Entravision Communications Corp. announced the start of a tender offer and consent solicitation for any and all of its $225 million outstanding principal amount 8 1/8% senior subordinated notes due 2009.

The offer expires at 5 p.m. ET on Sept. 21, unless extended.

For those who tender before the consent deadline, the company will pay the present value of $1,040.63 - the redemption price on the notes' first call date - plus all future interest payments up to March 15, 2006, discounted using a yield to March 31, 2006 equal to the sum of the yield on the 1½% Treasury due March 31, 2006 and 50 basis points.

The consent deadline is 5 p.m. ET on Aug. 22, unless extended.

Entravision will also pay accrued interest up to but not including the payment date.

The consents are being solicited to eliminate all restrictive covenants, affirmative covenants and events of default in the notes' indenture.

A valid tender is considered a consent.

The offer is conditioned upon Entravision completing a new financing arrangement, the availability of sufficient funds to purchase the notes and a majority of the notes being tendered.

Goldman, Sachs & Co. (800 828-3182 or call collect 212 357-7867) and Citigroup Global Markets Inc. (800 558-3745 or call collect 212 723-6106).

Bondholder Communications Group is the information and tender agent (212 809-2663).

Based in Santa Monica, Calif., Entravision is a diversified Spanish-language media company.

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