Allbritton Communications talks $455 million eight-year notes to yield 8%-8¼% with 0-1 point OID

By Paul A. Harris

St. Louis, April 21 - Allbritton Communications Co. talked its $455 million offering of eight-year senior unsecured notes (/B/) to yield 8% to 8¼% with zero to 1 point of original issue discount, a market source told Prospect News on Wednesday.

The Rule 144A with registration rights deal is expected to price on Thursday.

Deutsche Bank Securities Inc. is the left bookrunner. Bank of America Merrill Lynch is the joint bookrunner.

The notes come with four years of call protection.

Proceeds will be used to repay the existing 7¾% senior subordinated notes due 2012.

Allbritton Communications is an Arlington, Va.-based owner and operator of television stations.

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