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NEXSTAR MEDIA GROUP, INC.

(NXST)
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NEXSTAR MEDIA GROUP, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events, Financial Statements and Exhibits (form 8-K)

06/04/2021 | 02:03pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

On June 3, 2021, Nexstar Media Group, Inc. issued a press release announcing that Mission Broadcasting, Inc., ("Mission"), a variable interest entity of wholly-owned subsidiary, Nexstar Media Inc. (formerly known as Nexstar Inc. or Nexstar Broadcasting, Inc.) ("Nexstar"), has closed a new term loan facility in an aggregate principal amount of $300 million (the "2021 Term Loan B Facility"). The 2021 Term Loan B Facility has a seven-year maturity and bears interest at a rate of London Interbank Offered Rate ("LIBOR") plus 2.50%, with a 0.0% LIBOR floor and includes six-months of 101 soft call protection.

The foregoing description is qualified in its entirety by reference to the text of the new term loan facility, a copy of which is filed as Exhibits 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 8.01. Other Events.



The net proceeds from the 2021 Term Loan B Facility will be used to pay down Mission's borrowings under its existing Revolving Credit Facility, pay shared service fees to Nexstar and for general corporate purposes. Concurrent with the closing of the 2021 Term Loan B Facility, Mission re-allocated $255 million of its Revolving Credit Facility commitments to Nexstar's Revolving Credit Facility.

A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits


Exhibit No. Description
10.1          Credit Agreement, dated as of January 17, 2017, by among Mission
            Broadcasting, Inc., Bank of America, N.A. and the several lenders party
            thereto, as amended by the Amendment No. 4, dated June 3, 2021.
10.2          Credit Agreement, dated as of January 17, 2017, by among Mission
            Broadcasting, Inc., Bank of America, N.A. and the several lenders party
            thereto, as amended by the Amendment No. 5, dated June 3, 2021.
99.1          Press Release issued on June 3, 2021
104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).





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