LIN Television to redeem $165 million of its senior notes due 2013

By Tali David

Minneapolis, Nov. 3 - LIN Television Corp. issued a notice to redeem $109.1 million of its 6½% senior subordinated notes due 2013, and $55.9 million of its 6½% class B senior subordinated notes due 2013.

The company said it expects the redemption to become effective this month.

Following the redemption, there will remain outstanding $166.8 million of the 6½% senior subordinated notes and $85.4 million of the class B notes.

The redemption of these notes will be funded in part by proceeds from a new $125 million term loan, a new $75 million revolving credit facility and cash on hand, according to LIN.

LIN is a Providence, R.I.-based multimedia company.

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