Entercom to pay down credit facilities borrowings with note proceeds

By Sara Rosenberg

New York, March 11 – Entercom Communications Corp. plans to repay a portion of its senior secured credit facilities using some of the proceeds from a $540 million senior secured second-lien notes offering, according to a market source.

Remaining proceeds from the notes will be used to redeem 7¼% senior notes due 2024.

Entercom is a Philadelphia-based audio and entertainment company.

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