Entercom starts roadshow for $250 million eight-year senior notes

By Paul A. Harris

Portland, Ore., Nov. 14 - Entercom Radio, LLC began a roadshow on Monday for its $250 million offering of eight-year senior notes (Caa1/B-), according to an informed source.

An investor conference call is scheduled to take place at 12:15 p.m. ET on Tuesday.

The deal is set to price late in the present week.

Bank of America Merrill Lynch is the left bookrunner. Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. are the joint bookrunners.

Deutsche Bank Securities Inc. and SunTrust Robinson Humphrey are the co-managers.

The Rule 144A with registration rights notes come with four years of call protection and feature a 101% poison put.

Proceeds, together with borrowings under the company's new $345 million seven-year term loan and $50 million five-year revolver, will be used to repay the existing credit facilities and for general corporate purposes.

The notes offering is conditioned on the entry into the new credit facilities.

Entercom is a Bala Cynwyd, Pa.-based radio broadcasting company.

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