Business Context and Reporting Period
This Form 8-K was filed by Entravision Communications Corporation on April 30, 2012, reporting an event that occurred on April 27, 2012. The filing concerns the Company's debt management activities regarding its 8.750% Senior Secured First Lien Notes due 2017.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, or margin data. The primary financial metric disclosed relates to the Company's debt structure:
- Debt Instrument: 8.750% Senior Secured First Lien Notes due 2017.
- Redemption Amount: $20 million in aggregate principal.
- Redemption Price: 103% of principal plus accrued and unpaid interest.
- Remaining Debt: Approximately $364 million in principal will remain outstanding following the redemption.
Material Changes
The Company announced its intention to redeem a portion of its outstanding Notes. This represents a reduction in the Company's long-term debt obligations. The redemption is scheduled to occur on May 30, 2012.
Guidance, Outlook, and Risks
The filing contains forward-looking statements regarding the redemption of the Notes. Management highlighted specific risks and uncertainties that could cause actual results to differ from expectations, including:
- Impacts of the global recession.
- Tight credit markets.
- Other risks detailed in the "Risk Factors" section of the Annual Report on Form 10-K for the period ended December 31, 2011.
The Company disclaims any duty to update these forward-looking statements.
Investor Verification Checklist
- Confirm the execution of the $20 million redemption on the scheduled date of May 30, 2012.
- Verify the exact redemption price paid, including accrued interest and any applicable Additional Interest.
- Review the Form 10-K for the period ended December 31, 2011, to assess the full scope of risk factors mentioned.
- Monitor subsequent filings for confirmation of the remaining $364 million principal balance.