- Multimedia company Salem Media Group ( NASDAQ: SALM ) announced on Monday a voluntary redemption of its outstanding 6.75% Senior Secured Notes due 2024.
- The company plans to redeem in full the remaining $36.5M of the notes on March 27, 2023. The redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest to the redemption date.
- The transaction will be funded through an issuance of an additional $44.685M of 7.125% Senior Secured Notes due 2028 to certain holders.
For further details see:
Salem Media to redeem $36.5M of 2024 notes