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Nexstar Broadcasting Group, Inc.
NXST (the “Company”) announced
today that its wholly-owned subsidiary, Nexstar Broadcasting, Inc. (“Nexstar
Broadcasting”), intends to offer, subject to market and other customary
conditions, up to $200.0 million in aggregate principal amount of new senior
notes due 2020 (the “notes”) in a private offering. The Notes will be senior
unsecured obligations of Nexstar Broadcasting and will be guaranteed by the
Company and Mission Broadcasting Inc. (“Mission”).
Nexstar Broadcasting 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.
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