secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0001058623-23-000065
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000065/0001058623-23-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000065/cmls-20230609.htm
  HTML page:      https://secwatch.observer/filing/0001058623-23-000065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer