Belo prices $275 million in 8 percent notes

AP News
Posted: Nov 11, 2009 7:27 AM

Belo Corp. said Wednesday it has priced a $275 million bond offering it plans to use for paying down a line of credit.

The TV station operator said the notes will carry an interest rate of 8 percent, payable semiannually on May 15 and Nov. 15 beginning next year.

It plans to sell the notes, which come due in 2016, at 98.045 percent of face value.