New Issue: Radio One prices $335 million six-year notes at par to yield 9¼%

By Paul A. Harris

Portland, Ore., Jan. 29 - Radio One, Inc. priced a $335 million issue of six-year senior subordinated notes (Caa2/CCC/) at par to yield 9¼% on Wednesday, according to an informed source.

The yield printed on top of yield talk.

Credit Suisse Securities (USA) LLC was the bookrunner.

The Lanham, Md.-based radio broadcaster plans to use the proceeds to repay its senior subordinated notes due 2016.

Issuer:	Radio One, Inc.
Amount:	$335 million
Maturity:	Feb. 15, 2020
Securities:	Senior subordinated notes
Bookrunner:	Credit Suisse Securities (USA) LLC
Coupon:	9¼%
Price:	Par
Yield:	9¼%
Spread:	741 bps
First call:	Feb. 15, 2017 at 104.625
Equity clawback:	35% at 109.25 until Feb. 15, 2017
Trade date:	Jan. 29
Settlement date:	Feb. 10
Ratings:	Moody's: Caa2
	Standard & Poor's: CCC
Distribution:	Rule 144A and Regulation S for life
Price talk:	9¼% area
Marketing:	Roadshow

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