Radio One starts roadshow for $350 million seven-year secured notes

By Paul A. Harris

Portland, Ore., March 30 – Radio One Inc. began a roadshow on Monday for a $350 million offering of seven-year senior secured notes, according to an informed source.

The deal is set to price later in the present week.

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

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

The Washington, D.C.-based diversified media company plans to use the proceeds to finance the acquisition of ComCast Corp.’s 47.5% interest in TV One LLC.

Radio One primarily targets African American and urban consumers.

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