LBI To Sell $225 Million In Notes
June 21, 2007 at 5:46 AM (PT)
LBI MEDIA INC. is offering $225 million in senior subordinated notes due 2017. The notes would be guaranteed by all of the company's subsidiaries.
LBI intends to use the net proceeds of the offering to redeem its existing 10 1/8% senior subordinated notes due 2012 and repay outstanding borrowings under its existing senior revolving credit facility, with any remaining net proceeds to be used for general corporate purposes.