---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-015453"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T17:24:21.582367+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Salem Media amends credit agreement: LC limit raised to $3M, consents to sale-leaseback with $6.2M debt prepayment

## Summary
- Letter of credit limit increased from $1.0M to $3.0M under the Siena Lending Group facility.
- Lender consents to sale-leaseback of Camarillo, CA property; at least $6,231,900 in net proceeds to prepay revolving loans.
- Post-sale, aggregate revolving loans and undrawn LCs must remain at least $6.5M (minimum usage threshold).
- Sublimit on advances against eligible real estate reduced quarterly by $178,571 starting April 1, 2024.

## SEC filing metadata
- accession: 0001193125-24-015453
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312524015453/0001193125-24-015453-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312524015453/d719020d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-015453
- JSON: https://secwatch.observer/filing/0001193125-24-015453.json
- Plain text: https://secwatch.observer/filing/0001193125-24-015453.txt

## Key facts
- Material Agreements
  SALEM MEDIA GROUP, INC. /DE/ amended Letter Amendment and Consent with Siena Lending Group LLC (effective 2024-01-19).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Siena Lending Group LLC
  - Effective: 2024-01-19
  source text: On January 19, 2024, Salem Media Group, Inc. (the “ Company” ) and Siena Lending Group LLC (the “ Lender ”) entered into a Letter Amendment and Consent (the “ Amendment Letter ”) amending that certain Loan and Security Agreement (the “ Loan and Security Agreement ”), dated as of December 26, 2023, by and among the Lender, the Company and certain subsidiaries of the Company (collectively with the Company, the “ Borrowers ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050606/000119312524015453/0001193125-24-015453-index.htm

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