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NEXSTAR BROADCASTING GROUP INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

May 9, 2014



Item 1.01. Entry into a Material Definitive Agreement.

On May 6, 2014, 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. The main provisions of the amendments, effective as of April 30, 2014, are as follows:

Nexstar Broadcasting's and Mission's commitments under the Term Loan A

Facilities were reduced to $112.2 million and $60.0 million, respectively, from $144.0 million and $90.0 million, respectively. Subject to reallocation of up to $18.0 million for the benefit of Rocky Creek Communications, Inc., Nexstar Broadcasting may reallocate its unused Term Loan A Facility to Mission and Mission may also reallocate its unused Term Loan A Facility to Nexstar Broadcasting.



Extended the availability period of the unused Term Loan A Facilities until

October 31, 2014.

The quarterly principal payments under the Term Loan A Facilities will

commence on December 31, 2014 until maturity on June 28, 2018.

Nexstar Broadcasting and Mission will pay a commitment fee on unused Term Loan

A Facilities of 1.0% per annum.

The proceeds from borrowings under the Term Loan A Facilities may be used to

fund the purchase price and related costs in connection with permitted acquisitions as defined in the amended credit agreements.



On May 6, 2014, Nexstar prepaid $3.2 million of the outstanding principal balance under its Term Loan A pursuant to the terms of its amended credit agreement.

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 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above in Item 1.01 is incorporated into this Item 2.03 by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibit No. Description Fourth Amendment to the Fifth Amended and Restated Credit Agreement, dated as of May 6, 2014, by and among Nexstar Broadcasting, Inc., Nexstar Broadcasting Group, Inc., Nexstar Finance Holdings, Inc., Bank 10.1 of America, N.A. and the several Banks parties thereto. Fourth Amendment to the Fourth Amended and Restated Credit Agreement, dated as of May 6, 2014, by and among Mission Broadcasting, Inc., Bank 10.2 of America, N.A. and the several Banks parties thereto.



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Source: Edgar Glimpses


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