TEGNA Inc.’s $1.1 Billion Debt Offering

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A/Reg S offering by TEGNA Inc. of $1.1 billion aggregate principal amount of 5% Senior Notes due 2029.

The deal was upsized from $900 million to $1.1 billion. The net proceeds from the transaction were used to repay a portion of TEGNA’s existing notes and borrowings under its revolving credit facility that were used to finance the acquisition of certain broadcast stations. In addition, the Firm represented JPMorgan Chase Bank in connection with an amendment to TEGNA’s credit agreement.

TEGNA (NYSE: TGNA) is a leading local news and media content provider with 51 television stations and four radio stations in 43 markets.

The Simpson Thacher team for the transaction included David Azarkh (Picture), Mark Brod, Eva Kang, Ashley Yoon and Hyo Min Kim (Capital Markets); Patrick Ryan, Ismael Duran and Jonathan Zane (Credit): Jon Cantor and Edward Grais (Tax); Ashlie Lawton (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Melanie Jolson (Intellectual Property); and Jennie Getsin (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Mark Brod – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Ismael Duran – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Eva Kang – Simpson Thacher & Bartlett; Hyo Min Kim – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett; Ashley Yoon – Simpson Thacher & Bartlett; Jonathan Zane – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;