Radio One Announces New Extension Of Pending Exchange Offer
September 16, 2010 at 4:30 AM (PT)
RADIO ONE, INC. TODAY (9/16) announced that it had further 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 together with the 2011 Notes and the related consent solicitation, to 5p (ET) on SEPTEMBER 30th.
As of 5p (ET) on SEPTEMBER 15th, 2010, approximately 92.0% of the outstanding Existing Notes had been validly tendered into the exchange offer and not withdrawn.
In it's filing, RADIO ONE wrote, "Over the last several weeks, the Company believes that it has made significant progress in reaching an agreement with the members of the ad hoc group of holders of a significant portion of its Existing Notes relating to certain amendments to the terms of the exchange offer and the related exchange notes, including the conditions to the exchange offer, and with its lenders under its existing senior secured credit facility relating to an amendment thereto."