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Prospect News home > News index > List of issuers T > Headlines for Tenders 2005 > News item |
Spanish Broadcasting to retire 9 5/8% notes
New York, April 29 - Spanish Broadcasting System, Inc. said it plans to retire all its 9 5/8% senior subordinated notes due 2009 with proceeds from a new credit facility.
The Coconut Grove, Fla., radio broadcaster said the new facility will be via lead arranger Lehman Brothers Inc. with Merrill Lynch and Wachovia Securities also in the syndicate.
Proceeds from the $400 million of term loans plus a revolver will be used to repay existing bank debt as well as retire the notes.
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