Urban One, Inc. Makes Exchange Offer And Consent Solicitation For Outstanding Senior Secured Notes Due 2022

Makes Exchange Offer

URBAN ONE has commenced a private offer to certain eligible noteholders to exchange any and all of its outstanding $350.0 million aggregate principal amount of 7.375% Senior Secured Notes due 2022, for newly issued 8.75% Senior Secured Notes due 2022.

Holders of approximately $260.7 million principal amount of Old Notes, or 74.5% of the principal amount of Old Notes, have agreed to participate in the Exchange Offer, subject to customary conditions.

The New Notes are being offered to provide the Company with additional financial flexibility by replacing the Existing Notes.

« see more Net News