Entravision contemplating new loan in connection with bond tender

By Sara Rosenberg

New York, Aug. 10 - Entravision Communications Corp. is thinking of getting a new credit facility in connection with its tender offer and consent solicitation for any and all of its $225 million outstanding principal amount 8.125% senior subordinated notes due 2009 that began Tuesday, a company spokesman told Prospect News.

The new credit facility would be used to replace the company's' existing credit facility as well as to help fund the tender offer.

However, banks have not been approached for a loan commitment as it is still very early in the process, the spokesman said.

Entravision may also use some other form of financing in addition to the new credit facility to help with the tender offer, the spokesman continued, but nothing definitive has been decided at this point.

The tender offer, which is subject to financing, is scheduled to expire at 5 p.m. ET on Sept. 21.

The consents are being solicited to eliminate substantially all of the restrictive covenants, including the covenants limiting the incurrence of debt and the payment of dividends on and the repurchase of Entravision's capital stock.

Goldman, Sachs & Co. and Citigroup Global Markets Inc. have been retained to serve as the joint dealer managers and solicitation agents for the tender offer and the consent solicitation.

Entravision is a Santa Monica, Calif., diversified Spanish-language media company.

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