LBI Exchange Offers, Consent Solicitation Amended, Extended
December 11, 2012 at 2:43 PM (PT)
LBI MEDIA, INC., LBI MEDIA HOLDINGS, INC., and LIBERMAN BROADCASTING, INC. have amended some terms of their previously announced private exchange offers for LBI MEDIA's 8½% senior subordinated notes due 2017 and LBI MEDIA HOLDINGS' 11% senior discount notes due 2013 and solicitation of consents with respect to the LBI MEDIA notes (the "Old Notes"). The expiration date has also been once again changed, with acceptances and consents now due by midnight (ET) on DECEMBER 24th.
The companies say that the exchange offers now have the support of the majority of holders of LBI MEDIA's 9¼% Senior Secured Notes due 2019 , the Old Senior Subordinated Notes (76.3%), and the Discount Notes (72.7%). The date for exchange acceptances and consents is not expected to be extended further.