---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-23-000065"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T01:48:21.492093+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media amends $525M term loan to replace LIBOR with SOFR

## Summary
- Amendment replaces LIBOR benchmark with Term SOFR plus 0.10% for the $525M senior secured term loan.
- Effective June 9, 2023; no change to principal amount, maturity, or other terms of the credit facility.
- Conditions precedent: no default, representations true, lender consent obtained, fees paid.
- Existing LIBOR-based loans continue at current rate until the end of their applicable interest period.

## SEC filing metadata
- accession: 0001058623-23-000065
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000065/0001058623-23-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000065/cmls-20230609.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-23-000065
- JSON: https://secwatch.observer/filing/0001058623-23-000065.json
- Plain text: https://secwatch.observer/filing/0001058623-23-000065.txt

## Key facts
- Material Agreements
  CUMULUS MEDIA INC amended Amendment with Bank of America, N.A. ("BofA") valued at $525.0 million (effective 2023-06-09).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A. ("BofA")
  - Value: $525.0 million
  - Effective: 2023-06-09
  source text: On June 9, 2023, Cumulus Media New Holdings Inc. (“Holdings”), an indirect wholly-owned subsidiary of Cumulus Media Inc. (the “Company”), Cumulus Media Intermediate, Inc. (“Intermediate”), a direct wholly-owned subsidiary of the Company, and certain of the Company’s other subsidiaries (collectively, with Holdings and Intermediate, the “Credit Parties”) entered into a second amendment (the “Amendment”) to the Credit Agreement (as amended, the “Credit Agreement”), dated as of September 26, 2019, between the Credit Parties and Bank of America, N.A. (“BofA”), as a lender and Administrative Agent and certain other lenders from time to time party thereto, which provides for a $525.0 million senior secured term loan (the “Term Loan Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000065/0001058623-23-000065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.