Cumulus Media amends term loan to change benchmark to SOFR

By Wendy Van Sickle

Columbus, Ohio, June 13 – Cumulus Media Inc. subsidiary Cumulus Media New Holdings Inc. amended its credit agreement dated Sept. 26, 2019, which provides for a $525 million senior secured term loan to replace the relevant benchmark provisions, according to an 8-K filing with the Securities and Exchange Commission.

SOFR will now be the benchmark, replacing Libor.

Bank of America, NA is the administrative agent.

Cumulus Media is an Atlanta-based radio broadcaster.

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