Spanish Broadcasting System has announced completion of its recapitalization along with the closing of its previously announced offering of $310 million in aggregate principal amount of its senior secured notes due 2026.
“SBS is pleased to have executed on this recapitalization,” said Raúl Alarcón, Chairman/CEO. “Looking forward, we are uniquely positioned to continue the successful expansion of our Latino entertainment platform and the industry-leading operating margins, ratings performance and aggregate audience growth of our audio, video, digital and experiential business units.
In connection with the closing and the completion of its recapitalization, the company formally settled certain litigation relating to the Series B Preferred Stock that was pending in a Delaware Court.
RBC Capital Markets, LLC acted as financial advisor to the Company. RBC was represented by Latham & Watkins LLP. Fried, Frank, Harris, Shriver & Jacobson LLP acted as legal advisor to the Company.
