Townsquare Radio plans roadshow for $136.8 million tap of 9% senior notes due 2019

By Paul A. Harris

Portland, Ore., Nov. 5 - Townsquare Radio, LLC and Townsquare Radio, Inc. plan to begin a roadshow on Wednesday for a $136.8 million add-on to their 9% senior notes due April 1, 2019 (existing ratings B3/B), according to an informed source.

The deal is set to price on Friday.

RBC Capital Markets is the left bookrunner for the Rule 144A and Regulation S for life add-on. SunTrust Robinson Humphrey Inc. is the joint bookrunner.

Proceeds will be used to partially finance the proposed acquisition of 50 radio stations from Cumulus Media Holdings, Inc. and 11 radio stations from Peak II Holding LLC.

Townsquare is a Greenwich, Conn.-based diversified media, entertainment and digital marketing services company that owns and operates market-leading radio stations, digital properties and live events serving small and mid-sized markets throughout the United States.

The original $265 million issue priced at 99 to yield 9.197% in March 2012.

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