Entravision Makes Note Offering, Sees Q2 Revs Rising 9-10%
July 20, 2010 at 4:17 AM (PT)
ENTRAVISION COMMUNICATIONS CORPORATION will make a private offering of $385 million aggregate principal amount of senior secured first lien notes due 2017 and will enter into a new revolving credit facility of up to $50 million, the company announced MONDAY (7/19). The offering is expected to close on or about JULY 27th, with net proceeds to, among other things, repay in full outstanding indebtedness under its existing syndicated bank credit facility and for general corporate purposes.
The company also issued preliminary second quarter financial results, saying that its revenues rose 9-10% to the $53.3-$53.5 million range.