Bank of America Offers $2.75 Billion Loan for Tegna Acquisition

Bank of America is leading a $2.75 billion leveraged loan to finance Nexstar Media Group’s acquisition of Tegna Inc., a major TV station operator. The deal tests investor demand amid a weakening US loan market, where appetite for high-yield debt has declined. Nexstar’s pending takeover of Tegna, a rival broadcaster, would consolidate local TV ownership further if approved. The loan, structured as leveraged debt, reflects aggressive financing tactics despite economic uncertainty and rising interest rates. This move signals confidence in media sector growth despite broader market volatility and tighter lending conditions.