LIN Television intends to sell $290 million 8.25-year senior notes

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Oct. 4 - LIN Television Corp. is planning to price $290 million of 8.25-year senior notes (exiting ratings Caa1/CCC+), a market source said.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunners.

SunTrust Robinson Humphrey Inc. is the co-manager for the Rule 144A and Regulation S with registration rights transaction.

The notes will be non-callable for 4.25 years.

The Providence, R.I.-based local television and digital media company plans to use the proceeds to fund the purchase of broadcast and other related assets for 13 network affiliates owned by New Vision Television.

An investor call took place at 11 a.m. ET on Thursday.

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