---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-274580"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2021-09-16T23:59:59+00:00"
generated_at: "2026-06-29T03:08:00.593072+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Salem Media closes refinancing of $112.8M 2024 notes with $114.7M of 7.125% notes due 2028

## Summary
- Exchanged $112.8M of 6.75% senior secured notes due 2024 for $114.7M of 7.125% senior secured notes due 2028 (including 1.688% call premium).
- After refinancing, $103.5M of the original 2024 notes remain outstanding.
- Obtained commitments for up to $50M additional 2028 notes contingent on performance benchmarks, proceeds to repurchase 2024 notes exclusively.
- New notes mature June 1, 2028; interest payable semi-annually at 7.125%.
- CEO states refinancing provides clear path to address remaining debt maturities and offers flexibility for investment.

## SEC filing metadata
- accession: 0001193125-21-274580
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2021-09-16T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312521274580/0001193125-21-274580-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312521274580/d230198d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-274580
- JSON: https://secwatch.observer/filing/0001193125-21-274580.json
- Plain text: https://secwatch.observer/filing/0001193125-21-274580.txt

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