E.W. Scripps to start roadshow Tuesday for $400 million eight-year senior notes offering

By Paul A. Harris

Portland, Ore., April 17 – E.W. Scripps Co. plans to start a roadshow on Tuesday for a $400 million offering of eight-year senior notes (expected ratings Ba2/BB), according to a syndicate source.

The Rule 144A and Regulation S for life deal is set to price later this week.

Wells Fargo Securities LLC is the left bookrunner. BofA Merrill Lynch, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

Fifth Third, PNC Capital Markets and U.S. Bancorp Investments Inc. are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The Cincinnati-based broadcasting company plans to use the proceeds to repay its $391 million term loan B, with any remaining proceeds to be used for general corporate purposes.

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