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Article: Television Company Belo Corp. (BLC) Prices Senior Notes.
- Article from:
- PR Newswire
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Nov. 10 /PRNewswire-FirstCall/ -- Belo Corp. , one of the nation's largest pure-play, publicly-traded television companies, announced today that it has priced its previously announced offering of $275 million principal amount of senior notes due 2016. The notes will bear interest at a rate of 8 percent per annum with interest payable semi-annually on May 15 and November 15, beginning on May 15, 2010. The notes were issued at a price equal to 98.045 percent of their face value.
Belo intends to use the net proceeds from the offering to reduce its borrowings under the Company's revolving credit facility, which is to be amended and extended upon closing of ...