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SBS Launches $310 Million Senior Secured Notes Offering


Spanish Broadcasting System
Spanish Broadcasting System

Spanish Broadcasting System has priced an offering of $310 million of its senior secured notes due 2026. The Notes will bear interest semi-annually at a rate of 9.75% per annum and were offered at par value. The company intends to use the net proceeds of this offering along with cash on hand to repay its 12.5% senior secured notes due 2017, along with certain other consideration, to repurchase and/or redeem all of its outstanding 10 3/4% Series B cumulative exchangeable redeemable preferred stock, $0.01 par value and to pay related fees and expenses.

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