Nexstar Media Group Inc. has announced the successful refinancing of its credit facilities, alongside Mission Broadcasting Inc., resulting in extended maturities and reduced interest rate margins. The new agreements include a $750 million Nexstar Revolving Credit Facility and a $75 million Mission Revolving Credit Facility, both due in 2030, as well as a $1,905 million Nexstar Term Loan A and a $1,300 million Nexstar Term Loan B, due in 2030 and 2032, respectively. These facilities bear interest at the Secured Overnight Financing Rate plus varying basis points, offering a credit spread reduction compared to previous rates. This strategic refinancing enhances Nexstar's capital structure and financial flexibility. More details are available in the company's 8-K filing.
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