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Salem Communications seeks $25 million revolver, $300 million term loan
By Angela McDaniels
Tacoma, Wash., Feb. 25 - Salem Communications Corp. is seeking an up to $25 million revolving senior credit facility and an up to $300 million senior term loan, according to a company news release.
Proceeds from the term loan will be used to fund the company's tender offer for its $213.5 million principal amount of 9 5/8% senior secured second-lien notes due 2016.
The tender offer will expire at midnight ET on the night of March 22.
The co-dealer managers for the tender offer are Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760) and SunTrust Robinson Humphrey, Inc. (404 926-5051).
Salem is a radio broadcasting company based in Camarillo, Calif.
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