Non-Tech : Income Investing


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From: brehm2334/12/2012 4:44:53 PM
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Notes being called....

10:26AM Nexstar calls for partial redemption of its 7% senior subordinated notes due 2014 (NXST) 7.71 +0.06 : Co announced that it has called for redemption of $34 mln of the $37.516 mln outstanding aggregate principal amount of its 7% senior subordinated notes due 2014. The redemption price is $1,000 per $1,000 principal amount of notes, plus accrued and unpaid interest to the scheduled redemption date, which is May 11, 2012. Nexstar intends to fund the redemption of the notes from cash on hand, borrowings under its revolving credit facility or a combination thereof. Nexstar estimates that if it were to fund the entire planned $34 mln redemption with its revolving credit facility, the current interest rate differential will be ~ 250 basis points, resulting in annualized cash interest savings of ~ $850,000.
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