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Entercom Media plans partial repayment of existing term loan
By Rebecca Melvin
New York, April 22 – Entercom Media Corp. plans to partially repay existing debt under its senior secured term loan facility using proceeds from new notes and cash on hand.
Entercom Media, formerly CBS Radio Inc. and subsidiary of Entercom Communications Corp., plans to offer $300 million principal amount of new senior secured second-lien notes due 2027.
The notes will be guaranteed on a senior secured second-lien basis by each direct and indirect subsidiary of the issuer.
Entercom Media is a Philadelphia-based radio broadcasting company.
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