Radio One talks $335 million six-year senior subordinated notes to yield in 9¼% area

By Paul A. Harris

Portland, Ore., Jan. 29 - Radio One, Inc. talked its $335 million offering of six-year senior subordinated notes (Caa2/CCC) to yield in the 9¼% area, an informed source said on Wednesday morning.

Books close at 1 p.m. ET on Wednesday, and the deal is set to price thereafter.

Credit Suisse Securities (USA) LLC is the bookrunner for the Rule 144A for life offering.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

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

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