Townsquare Media, Inc. (TSQ): debt financing — Townsquare Media enters $490M credit facility; redeems $467.4M of 2026 notes

Townsquare Media, Inc.

New $470M term loan and $20M revolver, both maturing February 19, 2030.
Net proceeds of ~$453M used to redeem all $467.4M of 6.875% senior secured notes due 2026.
Term loan interest: SOFR floor 0.50% + 500 bps; revolver: SOFR + 375 bps (or base rate alternatives).
Facility secured by first-priority liens on substantially all assets; guaranteed by domestic subsidiaries.
Mandatory prepayments from excess cash flow and asset sales, with step-downs based on first lien net leverage.

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

Townsquare Media, Inc. incurred revolving credit of $20 million with Bank of America, N.A. and the lenders party thereto at SOFR plus 3.75% maturing February 19, 2030.

Instrument: revolving credit
Principal: $20 million
Counterparty: Bank of America, N.A. and the lenders party thereto
Rate: SOFR plus 3.75%
Maturity: February 19, 2030
Event: incurrence

Exact text from the filing

the Credit Agreement, subject to the terms and conditions set forth therein, provides for a five-year, $470 million senior secured term loan facility (the “Term Loan Facility”) and a five-year, $20 million senior secured revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facility”).

View on SEC.gov

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

Townsquare Media, Inc. incurred term loan of $470 million with Bank of America, N.A. and the lenders party thereto at SOFR plus 5.00% maturing February 19, 2030.

Instrument: term loan
Principal: $470 million
Counterparty: Bank of America, N.A. and the lenders party thereto
Rate: SOFR plus 5.00%
Maturity: February 19, 2030
Event: incurrence

Exact text from the filing

the Credit Agreement, subject to the terms and conditions set forth therein, provides for a five-year, $470 million senior secured term loan facility (the “Term Loan Facility”) and a five-year, $20 million senior secured revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facility”).

View on SEC.gov

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Townsquare Media, Inc. filing history →

Source: SEC EDGAR

accession 0001499832-25-000030

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