Nexstar Media Group Inc. Secures New $750 Million Revolving Credit Facility and Extends Loan Maturities

Reuters
30 Jun
Nexstar Media Group Inc. Secures New $750 Million Revolving Credit Facility and Extends Loan Maturities

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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