Cumulus Enters Accounts Receivable Credit Facility

New Facility

CUMULUS MEDIA, INC. has informed the SEC that it entered a five year, $50 million revolving accounts receivable securitization facility with GENERAL ELECTRIC CAPITAL CORPORATION on DECEMBER 6th.  Some of CUMULUS' subsidiaries will be assigning their existing and future accounts receivable and related assets to CMI RECEIVABLES FUNDING LLC,  another subsidiary being used by CUMULUS to aggregate the receivables and borrow against the new line of credit, secured by the receivables.

As of THURSDAY (12/12), CUMULUS had $25 million outstanding under the facility,

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