Allbritton Communications wraps tender offer for 7¾% notes due 2012

By Susanna Moon

Chicago, May 18 - Allbritton Communications Co. said it accepted an additional $10,000 principal amount of its outstanding 7¾% senior subordinated notes due 2012 by midnight ET on May 13, the expiration date.

The company accepted tenders for $405.4 million of its 7¾% senior subordinated notes due 2012 by 5 p.m. ET on April 29, the early tender date. The offer began on April 16.

Holders who tendered their notes by the early tender date received $1,015.42 for each $1,000 of notes, including an early tender payment of $30.00 per note.

The company will pay interest from the last interest payment date to, but not including, the payment date.

As previously noted, any remaining notes will be redeemed on June 1 at $1,012.92 per $1,000 principal amount plus accrued interest.

The tender offer was 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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