TEGNA’s $1 Billion Debt Offering


Simpson Thacher represented the initial purchasers, led by Citigroup Global Markets Inc., in connection with a Rule 144A/Reg S offering by TEGNA Inc.

TEGNA Inc. completed the offering of $1 billion aggregate principal amount of 4.625% Senior Notes due 2028.

Company intends to use the net proceeds from the offering to repay the remaining $310 million principal amount of its 5.125% senior notes (due 2020), the $650 million principal amount of its 6.375% senior notes (due 2023), and borrowings under its revolving credit agreement.

TEGNA (NYSE: TGNA) is a leading local news and media content provider with 62 television stations and four radio stations in 51 U.S. markets.

The Simpson Thacher team for the transaction included David Azarkh (Picture), Mark Brod and Camilla Johnson (Capital Markets); Jon Cantor and Edward Grais (Tax); Ashlie Lawton (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Abram Ellis, Mark Skerry and Joseph Betteley (Regulatory); Melanie Jolson (Intellectual Property); and Jennie Getsin (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Joseph Betteley – Simpson Thacher & Bartlett; Mark Brod – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Camilla Johnson – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Citigroup Global Markets Ltd;

Author: Ambrogio Visconti