Cumulus Closes On Notes Offering
May 13, 2011 at 11:14 AM (PT)
CUMULUS MEDIA INC. announced today that it has closed on its offering of $610 million aggregate principal amount of 7.75% senior notes due 2019.
Net proceeds from the offering are being used to repay in full all outstanding amounts under the term loan facility under the company's existing senior secured credit facilities and to pay fees and expenses related to the offering of Notes. Any remaining proceeds will be used for general corporate purposes.