Salem Media Group to repay bank facilities using note, loan proceeds

By Susanna Moon

Chicago, May 8 – Salem Media Group, Inc. said it plans to repay debt under the company’s senior credit facilities using proceeds from new notes and loans.

Salem plans to price $255 million principal amount of senior secured notes due 2024 in a private offering under Rule 144A and Regulation S, according to a company announcement.

The company also plans to obtain a new senior secured asset-based revolving credit facility.

Salem is a multimedia company based in Camarillo, Calif., that specializes in Christian and conservative content.

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