Radio One closes on new senior credit facility


After last year’s long and complicated refinancing adventure, Radio One is now back to more routine adjustments to its financial structure. The company on Friday (4/1) announced a new deal with its senior lenders.

Radio One said it has closed upon a new senior secured credit facility comprised of a $25 million “super-priority” revolving credit facility and a $386 million term loan. The applicable margin is between (i) 4.50% and 5.50% on the revolving portion of the facility and (ii) 5.00% (with a base rate floor of 2.50% per annum) and 6.00% (with a LIBOR floor of 1.50% per annum) on the term portion of the facility.

The revolver matures on March 31, 2015 and the term portion of the credit facility matures on March 31, 2016.

RBR-TVBR hears that Credit Suisse put the deal together.