Entercom Gets Lower Interest Rate On Some Loans
December 3, 2013 at 4:12 AM (PT)
ENTERCOM COMMUNICATIONS CORP. has informed the SEC that it has reached a Second Amendment to its Credit Agreement with its lenders and administrative agent the BANK OF AMERICA.
The amendment drops the interest rate on Term B loans by 75 points to either LIBOR plus 3%; or a base rate plus 2%. The LIBOR floor applicable to Term B-2 Loans has also been reduced by 25 basis points to 1%, and the step-down in the applicable rate for Term B Loans has been eliminated. Revolving credit rates remain unchanged.