Radio One Amends Credit Agreement
December 19, 2012 at 3:47 PM (PT)
RADIO ONE, INC. has secured an amendment to its MARCH 2011 Credit Agreement. The Amendment modifies financial covenant levels with respect to its total-leverage, secured-leverage, and interest-coverage hurdles; increases the amount of cash the Company can net for determination of its net indebtedness tests; and extends the time for certain of the Credit Agreement's call premium while reducing the time for its later and lower premium.
The Amendment became effective as of DECEMBER 19th, 2012 and was secured with the unanimous consent of holders of its loans under the Credit Agreement.