Nexstar Media Group Inc. (NASDAQ: NXST) announced that its wholly-owned subsidiary Nexstar Media Inc. intends to offer $3.39 billion in senior secured notes due 2033 and $1.73 billion in senior notes due 2034, subject to market conditions.

The notes will be offered in a private placement exempt from Securities Act registration. The secured notes will be guaranteed by Nexstar Media Group, Mission Broadcasting Inc., and certain subsidiaries that guarantee the company's credit facilities.

Nexstar Media plans to use proceeds from the secured notes offering, along with cash on hand, to repay bridge credit facility borrowings related to the TEGNA Inc. acquisition, repay certain senior secured credit facility borrowings, fund the purchase of TEGNA's 5.00% senior notes due 2029 through a tender offer, and pay related fees and expenses.

The company intends to use proceeds from the unsecured notes offering to fund the redemption of Nexstar Media's 5.625% senior notes due 2027 and pay associated fees and expenses.

The notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. investors outside the United States under Regulation S. The securities have not been registered under the Securities Act and cannot be offered or sold in the United States without registration or an applicable exemption.

This information is based on a press release statement from the company. Nexstar Media Group operates as a diversified media company producing and distributing local and national news, sports and entertainment content across television and digital platforms.