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Allbritton tenders for all 7¾% senior subordinated notes due 2012
By Devika Patel
Knoxville, Tenn., April 16 - Allbritton Communications Co. announced it has begun a cash tender offer for all of its 7¾% senior subordinated notes due 2012.
The tender offer will expire at midnight ET on May 13. Holders will receive $985.42 for each $1,000 of notes tendered by the expiration date. Holders who tender their notes by 5 p.m. ET on April 29 will be entitled to receive $1,015.42 for each $1,000 of notes, which includes an early tender payment of $30.00 per $1,000 of principal.
Interest will be paid on the notes from the last interest payment date to, but not including, the applicable payment date.
The tender offer is conditional upon the company raising sufficient funds to finance the offer.
Deutsche Bank Securities Inc. (212 250-5655) is the dealer manager. Global Bondholder Services Corp. (866 470-4300) is the information agent.
Allbritton is a Washington, D.C., owner and operator of television stations.
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