Radio One Extends Pending Exchange Offer Again
August 16, 2010 at 4:39 AM (PT)
RADIO ONE has again extended the expiration time of its previously announced exchange offer for its 8-7/8% Senior Subordinated Notes due 2011 and its 6-3/8% Senior Subordinated Notes due 2013, and the related consent solicitation, to 5p (ET) on AUGUST 30th.
As of 5p (ET) FRIDAY, about 89.8% of the outstanding notes had been validly tendered into the exchange offer and not withdrawn. The company is negotiating with representatives of the ad hoc group of holders of a significant portion of its notes and with its lenders trying to agree on amendments to allow the deal to go through.