amendmentcreditagreement.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
 
Washington, D.C. 20549
___________________
  
 
FORM 8-K
___________________
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 9, 2013
___________________
 
Nexstar Broadcasting Group, Inc.
(Exact Name of Registrant as Specified in its Charter)
___________________
 
 
Delaware
(State or Other Jurisdiction
of Incorporation)
 
000-50478
(Commission File Number)
 
23-3083125
(I.R.S. Employer
Identification No.)
 
5215 N. O’Connor Boulevard
Suite 1400
Irving, Texas 75039
(Address of Principal Executive Offices, including Zip Code)
 
(972) 373-8800
(Registrant’s Telephone Number, including Area Code)
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
___________________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
r Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
r Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
r Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
r Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
 
 

Item 1.01.  Entry into a Material Definitive Agreement.

On December 9, 2013, Nexstar Broadcasting, Inc. (“Nexstar Broadcasting”), an indirect wholly-owned subsidiary of Nexstar Broadcasting Group, Inc., and Mission Broadcasting, Inc. (“Mission”) entered into amendments to each of their senior secured credit facilities.

As a result of the amendments, Nexstar Broadcasting repaid $5.0 million of its outstanding Term Loan B and Mission received an additional $5.0 million of Term Loan B. In addition, the outstanding principal balance of Nexstar Broadcasting and Mission under their Term Loan B of $239.8 million and $108.5 million, respectively, were converted into Term Loan B-2 effective December 9, 2013.

The Term Loan B-2 bear interest at a floating rate, which can be either a base rate plus an applicable margin or, at the Borrower’s option, a Eurodollar rate plus an applicable margin, as defined in the amended credit agreements. The applicable margin for the Term Loan B-2 is 1.75% per annum for base rate loans and 2.75% per annum for Eurodollar loans. The principal amounts under the Term Loan B-2 are reduced by quarterly payments of 0.25% of the aggregate principal amount beginning December 31, 2013. The remainder of the principal is due in full at maturity on October 1, 2020.

The foregoing description is qualified in its entirety by reference to the text of the amendments, copies of which are filed as Exhibit 10.1 and 10.2 to this Current Report on Form 8-K and the terms of which are incorporated herein by reference.

Item 9.01.  Financial Statements and Exhibits.
 
Exhibit No.
Description
10.1
Third Amendment to the Fifth Amended and Restated Credit Agreement, dated as of December 9, 2013, by and among Nexstar Broadcasting, Inc., Nexstar Broadcasting Group, Inc., Nexstar Finance Holdings, Inc., Bank of America, N.A. and the several Banks parties thereto.
10.2
Third Amendment to the Fourth Amended and Restated Credit Agreement, dated as of December 9, 2013, by and among Mission Broadcasting, Inc., Bank of America, N.A. and the several Banks parties thereto.

 
 
 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
 
   NEXSTAR BROADCASTING GROUP, INC  
       
 Dated: December 13, 2013      
       
  By: /s/ Thomas E. Carter        
  Name: Thomas E. Carter  
  Title:
Chief Financial Officer 
(Principal Accounting Officer)
  
 

 
 
 


 
EXHIBIT INDEX
 

 
Exhibit No.
Description
10.1
Third Amendment to the Fifth Amended and Restated Credit Agreement, dated as of December 9, 2013, by and among Nexstar Broadcasting, Inc., Nexstar Broadcasting Group, Inc., Nexstar Finance Holdings, Inc., Bank of America, N.A. and the several Banks parties thereto.
10.2
Third Amendment to the Fourth Amended and Restated Credit Agreement, dated as of December 9, 2013, by and among Mission Broadcasting, Inc., Bank of America, N.A. and the several Banks parties thereto.