Nexstar Media Group Inc. (NASDAQ: NXST) announced that its subsidiary Nexstar Media Inc. has priced $3.39 billion in 6.500% senior secured notes due 2033 and $1.725 billion in 7.250% senior notes due 2034 through a private offering.

The secured notes are expected to close on March 25, 2026, with a maturity date of September 15, 2033. The unsecured notes are expected to close on April 2, 2026, with a maturity date of April 15, 2034. Both offerings are subject to customary closing conditions and were priced at 100% of face value.

Nexstar Media plans to use proceeds from the secured notes offering, along with cash on hand, to repay bridge credit facilities related to its 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 to redeem Nexstar Media's existing 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 under Regulation S. The securities have not been registered under the Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.

The notes will be guaranteed by Nexstar Media Group, Mission Broadcasting Inc., and certain restricted subsidiaries that guarantee the company's credit facilities.