Entercom Gets Lower Interest Rate On Some Loans

Lower Rates

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.

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