Citadel talks downsized $400 million eight-year notes at 7¾%-8% yield

By Paul A. Harris

St. Louis, Dec. 2 - Citadel Broadcasting Corp. downsized its senior notes offering to $400 million from $500 million and shifted $100 million of the proceeds to its bank loan on Thursday, according to market sources.

The Las Vegas-based radio company talked the eight-year notes (Ba3/BB-) with a 7¾% to 8% yield.

The deal is set to price on Friday.

J.P. Morgan Securities LLC and Credit Suisse Securities are managing the sale of notes, which are formatted according to the provisions of Rule 144A and Regulation S.

Proceeds will be used to pay down credit facility borrowings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.