New Issue-Salem Communications $300 mln in notes

Nov 24 (Reuters) - Salem Communications Corp (SALM.O) late
on Monday sold $300 million of senior secured second lien notes
in the 144a private placement market, said IFR, a Thomson
Reuters service.

Bank of America and Barclays were the joint bookrunning
managers for the sale.
BORROWER: SALEM COMMUNUNICATIONS CORP
AMT $300 MLN COUPON 9.625 PCT MATURITY 12/15/2016
TYPE SR SEC NTS ISS PRICE 99.365 FIRST PAY 6/15/2010
MOODY'S B2 YIELD 9.75 PCT SETTLEMENT 12/1/2009
S&P SINGLE-B SPREAD 693 BPS PAY FREQ SEMI-ANNUAL
FITCH N/A MORE THAN TREAS NON-CALLABLE 4 YRS*
*MAKE-WHOLE CALL 50 BPS
((New Issue by Thomson Reuters; +1-646-223-6886 e-mail:
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