Belo Corp. (BLC) to Issue Senior Debt
Belo Corp announced an offering of between $250-275 million of senior notes due in 2016. The notes were issued under a shelf registration filed with the Securities and Exchange Commission (SEC) in September 2009, authorizing up to $600 million in debt. Belo Corp said that prior to the deal closing, which is expected at the end of November 2009, the company must obtain a waiver from its lenders on its leverage and interest coverage covenants. The company had total debt of $1.042 billion, as of September 30, 2009. Belo Corp plans to use the funds to reduce the amount outstanding…