secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2023-03-20T23:59:59+00:00
Accession:  0001193125-23-074831
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Salem Media issues $44.7M of 7.125% Senior Secured Notes due 2028, redeems $36.5M of 2024 notes
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523074831/0001193125-23-074831-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523074831/d293072d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-074831

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