Spanish Broadcasting System Prices $310 Million Note Offering

Note Offering

SPANISH BROADCASTING SYSTEM, INC. has priced its offering of $310 million in senior secured notes due 2026 (NET NEWS 2/5). The notes carry a 9.75% per annum interest rate.

SBS will use the net proceeds plus cash on hand to repay its 12.5% senior secured notes due 2017 and repurchase and/or redeem its outstanding 10 3/4% Series B cumulative exchangeable redeemable preferred stock, plus fees and expenses.

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