debt
confidence high
sentiment neutral
materiality 0.40
Cumulus Media extends exchange offer deadline for debt refinancing to April 12, 2024
CUMULUS MEDIA INC
- Extends expiration of exchange offer to April 12, 2024 from April 9, 2024.
- Offers to exchange 6.750% Senior Secured First-Lien Notes due 2026 for new 8.750% Notes due 2029.
- Approximately $15M aggregate principal of old notes validly tendered as of April 9.
- Holders tendering after early deadline receive $770 principal amount of New Notes per $1,000 old notes.
- Early tender period ended March 18; withdrawal period expired March 11.