Simpson Thacher Represents Initial Purchasers in $550 Million Debt Offering by TEGNA
09.10.20
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The Firm represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A/Reg S offering by TEGNA Inc. (“TEGNA”) of $550 million aggregate principal amount of 4.75% Senior Notes due 2026. The deal was upsized from $400 million to $550 million. The net proceeds from the transaction were used to repay a portion of TEGNA’s existing notes. To date, Simpson Thacher has represented the initial purchasers in connection with approximately $2.7 billion of debt financings by TEGNA since 2019.
TEGNA (NYSE: TGNA) is a leading local news and media content provider with 63 television stations and two radio stations in 51 U.S. markets.
The Simpson Thacher team for the transaction included David Azarkh and Evan Zuckerman (Capital Markets); Jon Cantor and Edward Grais (Tax); Ashlie Lawton (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Abram Ellis, Mark Skerry and Tomi Mendel (Regulatory); Melanie Jolson (Intellectual Property); and Jennie Getsin (Blue Sky).