By Wendy Van Sickle
Columbus, Ohio, March 20 – Salem Media Group Inc. sold an additional $44,685,000 of its 7 1/8% senior secured notes due 2028 on Monday, according to an 8-K filing with the Securities and Exchange Commission.
The notes will have the same terms and be treated as a single class with the $114.7 million of the notes issued on Sept. 10, 2021, except that the additional notes have a separate Cusip.
The company will use a portion of the proceeds of the news notes to fully redeem its $36,535,000 of 6¾% senior secured notes due 2024 on March 27 at par plus accrued interest.
Salem is a Camarillo, Calif.-based domestic multimedia company.
| Issuer: | Salem Media Group, Inc.
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| Amount: | $44,685,000
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| Issue: | Exchange notes
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| Maturity: | 2028
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| Trustee: | U.S. Bank NA
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| Coupon: | 7 1/8%
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| Price: | Par
|
| Settlement date: | March 20
|
| Prior issuance: | $114.7 million issued on Sept. 10, 2021
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