Townsquare buys back $17.2 million 6½% notes due 2023

New York, Aug. 4 – Townsquare Media, Inc. repurchased $17.2 million of its 6½% senior notes due 2023 during the second quarter, the company reported in its 10-Q filing with the Securities and Exchange Commission.

The buybacks were made at market prices below par and resulted in an accounting gain of $0.4 million for the quarter.

Townsquare previously bought $0.7 million of the notes on March 24, also below par, recording a gain of $34,000.

For all the repurchases, the company also paid accrued interest.

Following the transactions, Townsquare has $282,079,000 of the notes outstanding, down from the $300 million issued in April 2015.

Townsquare is a Greenwich, Conn., operator of radio stations and websites in small- and mid-sized markets.

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