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Article: Nashville Public Radio Goes Through Colorado to Bring Revenue Bonds to Market.
- Article from:
- The Bond Buyer
- Article date:
- March 21, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. 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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In the second sale of its kind and the first-ever multi-state sale of such debt, Nashville Public Radio on Tuesday will sell $5.5 million of public radio revenue bonds to finance the acquisition of a radio station and refund old debt.
About $3 million of the proceeds from the sale will finance the acquisition of 1430 AM in Tennessee, a station that will add about 1.2 million listeners to Nashville Public Radio's current audience of 2.2 million. Another $1.5 million will refund the station's outstanding unrated 1997 bonds, bringing an estimated savings of $100,000. The remainder of the bond proceeds will be used for some equipment purchase and replacement as well ...