Entercom to bring $150 million off-the-shelf 12-year notes

By Paul A. Harris

St. Louis, Mo., Feb. 20 - Entercom Communications Corp. is set to begin a roadshow Thursday for an off-the-shelf offering of $150 million senior subordinated notes due 2014, according to a syndicate source.

The roadshow will conclude on Feb. 27, with pricing expected early in the week of March 4, according to the syndicate source.

Joint bookrunners are Credit Suisse First Boston and Deutsche Banc Alex. Brown, with co-managers Banc of America Securities and Morgan Stanley.

The notes are non-callable for five years, and contain an equity clawback of 35% for three years.

The company plans to use the proceeds to repay bank debt, to fund acquisitions and for general corporate purposes.

The Bala Cynwyd, Penn.-based broadcaster owns 100 radio stations in 19 markets, according to public information.

© 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.