Nexstar makes a noteworthy offer


Television group Nexstar is looking to pay off some of its obligations which come due in 2014, and to that end, it is offering up to $200M worth of senior notes that will mature in 2020.

It will be a private offering, and the notes will be considered senior unsecured obligations of Nexstar Broadcasting and will be guaranteed by the Company and Mission Broadcasting Inc.

The company said it “…intends to use the net proceeds from the proposed offering to repurchase all of its outstanding 7% Senior Subordinated Notes due 2014 and its 7% Senior Subordinated PIK Notes due 2014, refinance a portion of its existing senior secured credit facilities and pay related fees and expenses.”

The offer is being made to qualified institutional investors under Rule 144A under the Securities Act of 1933.