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LBI prolongs exchange for 11% discount notes, 11½% PIK notes
New York, Sept. 23 - LBI Media Holdings, Inc. and its subsidiary LBI Media, Inc. announced the extension of their exchange offer for Holdings' 11% senior discount notes due 2013 and Media's 11½%/13½% PIK toggle second-priority secured subordinated notes due 2020.
The exchange offer will now run until midnight ET on Oct. 1, pushed back from Sept. 26.
LBI previously said holders of 46% of Holdings' notes that are not held by the issuers or affiliates have agreed to participate.
The offer is open to qualified institutional buyers and accredited investors.
The 11% notes are due on Oct. 15 of this year, according to Prospect News data.
DF King & Co. is the information agent (212 269-5550).
LBI Media is a Burbank, Calif.-based Spanish-language radio and television broadcaster. It began the offer on Aug. 28.
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