Radio One Refinances With New $350 Million Credit Facility

New Loans

RADIO ONE has closed on a new $350 million senior secured credit facility. The company closed on the new credit line, comprised of $350 million in term loans, on APRIL 18th with GUGGENHEIM SECURITIES CREDIT PARTNERS, LLC as administrative agent, THE BANK OF NEW YORK MELLON as collateral agent, and GUGGENHEIM SECURITIES, LLC as sole lead arranger and sole book running manager.

The new facility matures on the earlier of APRIL 18th, 2023 or, if the debt is not repaid or refinanced, Ninety-one days before the maturity of either of the Company’s 7.375% Senior Secured Notes due 2022 or the Company’s 9.25% Senior Subordinated Notes due 2020.

Proceeds from the new credit facility were used to prepay in full the company’s existing senior secured credit facility, which was terminated with the payment.

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