trending Market Intelligence /marketintelligence/en/news-insights/trending/mYNM6UZS77DMr8fNqPkfTw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Spanish Broadcasting unveils recapitalization plans

Blog

Bundling fixed & mobile services is still a popular strategy for operators in Western Europe especially in Portugal and Spain

Blog

Fintech Intelligence Newsletter: February 2021

PODCAST

Episode 5: The Future of Work - The World of Workforce Experience and Productivity

Blog

Needham & Company is Now Available in the S&P Global Market Intelligence Aftermarket Research Collection


Spanish Broadcasting unveils recapitalization plans

In connection with its planned recapitalization, Spanish Broadcasting System Inc. received a letter from a financial services broadcast lender stating that it is "highly confident of its ability" to arrange $300 million in secured debt financing.

The debt financing will carve out noncore real estate and broadcast station assets, allowing the company to "obtain a separate and incremental first lien asset-based financing facility," the company disclosed in an SEC filing.

Spanish Broadcasting System intends to use the proceeds from the $300 million of debt financing, plus the proceeds of the additional and incremental asset-based funding, to repay its existing $249.9 million of 12.5% senior secured notes as well as to make cash purchases of its existing series B preferred stock.