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BRIEF-Nexstar Media Group refinances senior secured term loans
July 10, 2017 / 8:12 PM / 2 months ago

BRIEF-Nexstar Media Group refinances senior secured term loans

July 10 (Reuters) - Nexstar Media Group Inc

* Nexstar Media Group refinances senior secured term loans and revolving credit facility

* Nexstar Media Group Inc - refinancing reduces annual interest expense by approximately $15 million

* Nexstar Media Group Inc - new $2.125 billion term loan B facility was issued at par and bears interest at a rate of LIBOR plus 2.50%

* Nexstar Media Group Inc - term loan B facility maturity date remains unchanged

* Nexstar Media Group - received commitments for $3.1 billion refinancing of outstanding senior secured term loan facilities

* Nexstar Media Group - will also be refinancing $175.0 million senior secured revolving credit facility under which $3.0 million was drawn as of March 31, 2017

* Nexstar Media Group Inc - interest rate for new term loan A and revolving credit facilities is LIBOR plus 2.00%

* Nexstar Media Group says $3.1 billion refinancing of senior secured term loan facilities includes balance of $2.75 billion senior secured term loan B due Jan 2024

* Nexstar Media Group - new senior secured revolving credit facility has total capacity of $175 million initially bears interest at rate of LIBOR plus 2.00%, Source text for Eikon: Further company coverage:

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