BEASLEY BROADCAST GROUP INC (BBGI): debt financing — Beasley completes exchange of $184M second-lien notes for $98.5M PIK notes, new $35M ABL facility

BEASLEY BROADCAST GROUP INC

Exchanged $184.1M of 9.200% Second Lien Notes for $98.5M of new 10% PIK Notes due 2027 at $500 per $1,000 principal plus 50% accrued interest.
New PIK Notes mature Dec 31, 2027, with springing maturity in Sept 2027 if refinancing not secured; interest payable in kind.
Holders of majority of PIK Notes may convert all outstanding notes into 95% of BBGI common equity after Dec 31, 2027, subject to FCC approval.
Entered $35M ABL credit facility with Siena Lending Group LLC, maturing 2029, borrowing based on receivables, floating rate + 4.25% margin.
Completed tender offer for $15.9M of existing First Lien Notes at par; $15M remain outstanding.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BEASLEY BROADCAST GROUP INC incurred senior notes of $98,475,254 with Wilmington Trust, National Association at 10.000% maturing December 31, 2027.

Instrument: senior notes
Principal: $98,475,254
Counterparty: Wilmington Trust, National Association
Rate: 10.000%
Maturity: December 31, 2027
Event: incurrence

Exact text from the filing

1, 2026, Beasley Mezzanine Holdings, LLC (the “Issuer”), a direct, wholly owned subsidiary of Beasley Broadcast Group, Inc. (the “Company”), issued $98,475,254 in aggregate principal amount of 10.000% Senior Secured Second Lien PIK Notes due 2027 (the “2027 PIK Notes”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BEASLEY BROADCAST GROUP INC entered into 2027 PIK Notes Indenture with Wilmington Trust, National Association valued at $98,475,254 (effective 2026-05-01).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $98,475,254
Effective: 2026-05-01

Exact text from the filing

The 2027 PIK Notes were issued pursuant to an indenture, dated as of May 1, 2026 (the “2027 PIK Notes Indenture”), among the Issuer, the guarantors named therein and Wilmington Trust, National Association, as trustee and collateral agent.

View on SEC.gov

Browse all debt financings →

BEASLEY BROADCAST GROUP INC filing history →

Source: SEC EDGAR

accession 0001193125-26-201510

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.