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BRIEF-Scripps launches proposed private placement of senior notes
April 17, 2017 / 9:02 PM / 3 months ago

BRIEF-Scripps launches proposed private placement of senior notes

2 Min Read

April 17 (Reuters) - E. W. Scripps Co:

* Scripps launches proposed private placement of senior notes

* E. W. Scripps co says has launched an offering of $400 million of new senior unsecured notes

* E. W. Scripps co - notes are expected to mature in 2025 and will be guaranteed by certain of company's existing and future subsidiaries

* E. W. Scripps co says proceeds from offering will be used to repay existing $391 million term loan b due in 2020, to pay related fees and expenses

* E. W. Scripps - is seeking to amend and restate existing $100 million senior secured revolving credit facility to increase borrowing capacity to $125 million

* E. W. Scripps co-in conjunction with notes issuance, co is seeking to extend maturity of existing senior secured revolving credit facility to 2022

* E. W. Scripps co - company expects first-quarter 2017 operating results to be consistent with its prior expectations

* E. W. Scripps co - expects first-quarter 2017 operating results to be consistent with its prior expectations

* E. W. Scripps- q1 television revenue expected to be flat, radio revenue expected to decrease in mid-single-digit range, digital revenue to increase in mid-20 percent range

* E. W. Scripps co-expects television revenue to be flat,radio revenue to decrease mid-single-digit range,digital revenue to increase mid-20 percent range versus q1 2016 Source text for Eikon: Further company coverage:

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