Allbritton gets early tenders for $405.4 million 7¾% notes due 2012; remainder called

By Jennifer Chiou

New York, April 30 - Allbritton Communications Co. said it accepted early tenders for $405.4 million of its 7¾% senior subordinated notes due 2012.

The tender offer will expire at midnight ET on May 13. It began on April 16.

Holders who tendered their notes by 5 p.m. ET on April 29 received $1,015.42 for each $1,000 of notes, which included an early tender payment of $30.00 per $1,000 of principal.

Holders tendering after the early deadline will receive $985.42 for each $1,000 of notes tendered by the expiration date.

Interest will be paid on the notes from the last interest payment date to, but not including, the payment date.

Allbritton added that any remaining notes will be redeemed on June 1 at $1,012.92 per $1,000 principal amount plus accrued interest.

The tender offer is conditional upon the company raising sufficient funds to finance the offer, and the company said that it closed on its $455 million private placement offering of 8% senior notes due May 15, 2018.

Deutsche Bank Securities Inc. (212 250-5655) is the dealer manager. Global Bondholder Services Corp. (866 470-4300) is the information agent.

Allbritton is a Washington, D.C., owner and operator of television stations.

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