Spanish Broadcasting redeems 10.75% series B preferreds

Chicago, Feb. 18 – Spanish Broadcasting System Inc. announced that it has repurchased or redeemed all of its outstanding 10.75% series B cumulative exchangeable redeemable preferred stock now that it has completed the $310 million offering of new notes, previously reported.

Additionally, with the closing and completion of the company’s recapitalization the company formally settled litigation relating to the series B preferred stock that was pending in the Delaware Court of Chancery.

The company is a Miami-based owner and operator of radio stations.

© 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.