{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-074831","form_type":"8-K","ticker":"SALM","cik":"0001050606","company_name":"SALEM MEDIA GROUP, INC. /DE/","filed_at":"2023-03-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.670609+00:00","generated_at":"2026-06-17T22:49:24.828039+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Salem Media issues $44.7M of 7.125% Senior Secured Notes due 2028, redeems $36.5M of 2024 notes","bullets":["Issued $44,685,000 additional 7.125% Senior Secured Notes due 2028 under existing indenture.","Net proceeds used to redeem all $36,535,000 of outstanding 6.750% Senior Secured Notes due 2024 at par plus accrued interest.","Redemption of 2024 Notes set for March 27, 2023; obligations discharged on March 20, 2023.","First Supplemental Indenture added subsidiary guarantors and reduced the Consolidated Total Debt Ratio threshold for dividend payments.","Notes not registered under Securities Act; sold to qualified institutional buyers."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-074831","json":"https://secwatch.observer/filing/0001193125-23-074831.json","markdown":"https://secwatch.observer/filing/0001193125-23-074831.md","text":"https://secwatch.observer/filing/0001193125-23-074831.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523074831/0001193125-23-074831-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523074831/d293072d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T22:49:24.828039+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"01384f44d62da32175dc717aa9474df13a90a775","claim":"SALEM MEDIA GROUP, INC. /DE/ incurred senior notes of $44,685,000 with qualified institutional buyers at 7.125% per annum maturing 2028.","evidence_excerpt":"On March 20, 2023, Salem Media Group, Inc. (the “ Company ”) issued and sold an aggregate principal amount of $44,685,000 in additional 7.125% Senior Secured Notes due 2028 (the “ Additional 2028 Notes ”) pursuant to an indenture, dated as of September 10, 2021 (the “ Base Indenture ”), as amended and supplemented by a supplemental indenture, dated as of March 20, 2023 (the “ First Supplemental Indenture ” and together with the Base Indenture, the “ 2028 Notes Indenture ”), among the Company, the guarantors named therein (the “ Subsidiary Guarantors ”) and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee (the “ Trustee ”) and collateral agent (the “ Collateral Agent ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1050606/000119312523074831/0001193125-23-074831-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$44,685,000"},{"label":"Counterparty","value":"qualified institutional buyers"},{"label":"Rate","value":"7.125% per annum"},{"label":"Maturity","value":"2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}