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Nexstar Media Prices $5.1 Billion Notes Offering to Refinance Debt

BY MT Newswires | CORPORATE | 03:48 AM EDT

03:48 AM EDT, 03/24/2026 (MT Newswires) -- Nexstar Media Group (NXST) said late Monday its subsidiary, Nexstar Media (NXST), priced a private offering of approximately $5.1 billion in senior notes.

The company said the offering includes $3.39 billion of 6.50% senior secured notes due 2033 and $1.73 billion of 7.25% senior unsecured notes due 2034, both issued at par.

The secured notes are expected to close Wednesday, while the unsecured portion is set to close April 2, the company said.

Nexstar Media (NXST) said proceeds from the secured notes will be used primarily to repay bridge loans and other debt tied to its acquisition of Tegna, as well as to fund a tender offer for Tegna's existing notes.

Funds from the unsecured notes will be used to redeem its 5.625% senior notes due 2027 and to cover related fees and expenses, it said.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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