Cumulus Moves Forward With A Second Term Loan


On June 13, Cumulus Media saw much demand for an offering announced two days earlier of senior secured first-lien notes due 2026. Initially priced at $300 million, the offering ended up “upsized.” It priced $500 million in aggregate principal amount of 6.750% senior secured first-lien notes due 2026, with the sale of the notes completed June 26.

Now, Cumulus is at it again as it seeks to swap new debt with old debt.

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