debt
confidence high
sentiment neutral
materiality 0.50
Cumulus Media extends exchange offer expiration to April 17; $15M of old notes tendered
CUMULUS MEDIA INC
- Expiration time extended to 5:00 p.m. ET on April 17, 2024 (from April 16).
- Approximately $15 million aggregate principal amount of old 6.75% notes due 2026 validly tendered and not withdrawn as of April 16.
- Holders tendering after March 18 receive $770 of new 8.75% notes per $1,000 of old notes.
- Exchange offer is for any and all outstanding old notes; new notes are unregistered and restricted.