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Nexstar unit plans senior note offering

NexstarBroadcasting Group Inc. unit Nexstar Escrow Corp. is planning tooffer up to $900 million in new, senior unsecured notes due 2024 in a privateoffering.

The notes will be secured in escrow account and would bereleased after closing of the proposedacquisition ofMedia General Inc.,and satisfaction of other conditions.

The company plans on using the proceeds from the proposedoffering, and borrowings under new credit facilities, to partially fund themerger, including repayment of Media General's existing debt, according to a July13 SEC filing. The proceedswill be also used for repayment of Nexstar's existing senior secured creditfacilities and for general corporate purposes, the company said.