debt
confidence high
sentiment neutral
materiality 0.55
Cumulus Media extends exchange offer expiration to Apr 18; $15M tendered
CUMULUS MEDIA INC
- Expiration extended to 5pm Apr 18 from 5pm Apr 17; offer remains otherwise unchanged.
- As of Apr 17, ~$15M principal amount of old 6.750% notes had been validly tendered.
- Exchange offers $770 of new 8.750% notes due 2029 per $1,000 principal of old 6.750% notes due 2026.
- Withdrawal deadline expired Mar 11; late tenders only eligible for $770 principal per $1,000.