Simpson Thacher Represents Goldman Sachs in Offering of $275 Million Senior Secured Notes by Spanish Broadcasting System, Inc.
02.10.12
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Simpson Thacher recently represented Goldman, Sachs & Co. as initial purchaser in an offering pursuant to Rule 144A and Regulation S of $275 million of 12.5% Senior Secured Notes due 2017 of Spanish Broadcasting System, Inc., or SBS. SBS used the proceeds of the notes offering, together with available cash, to refinance its credit facility that was due to mature this year.
SBS is the largest publicly traded Hispanic-controlled media and entertainment company in the United States. SBS owns and/or operates 21 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, including the #1 Spanish station in America, WSKQ-FM in New York City. The Company also owns and operates MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events and operates www.LaMusica.com, a bilingual Spanish-English online site providing content related to Latin music, entertainment, news and culture.
The Simpson Thacher team for this transaction included John Ericson, Art Robinson, Vanessa Browder and Brandon Mason (Capital Markets); Erik Hepler and Sheri Nentin (Collateral and Intercreditor Issues); Anthony Minervini (Tax); David Rubinsky and Tyler Anderson (Executive Compensation & Employee Benefits); Marcela Robledo (Intellectual Property); Timothy Mulvihill (Environmental); Mardi Merjian and Justin Vilinsky (Real Estate); and Andrew Pagliughi (Blue Sky).