We advised an ad hoc group of term loan lenders on the transaction

Davis Polk advised an ad hoc group of term loan lenders in connection with a negotiated repurchase of approximately $207 million aggregate principal amount of Hubbard Radio, LLC’s outstanding term loans due in 2027. 100% of Hubbard Radio’s outstanding term loans were repurchased in the transaction.

Hubbard Broadcasting is a television and radio broadcasting corporation based in St. Paul, Minnesota. The company operates over 50 radio stations nationwide and has broadcast outlets scattered across Minnesota, Wisconsin, Missouri, Illinois, Ohio, New York, Texas, New Mexico, Arizona, Washington, Florida and Washington DC.

The Davis Polk restructuring team included partners Damian S. Schaible and Christian Fischer, counsel Michael Pera and associates Linyang Wu, Trevor D. Jones and Katharine O’Neill. All members of the Davis Polk team are based in the New York office.

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