Townsquare Announces New $490 Million Credit Agreement
Townsquare Media Inc announces a new $490 million credit agreement with Bank of America. The deal
provides Townsquare with a five-year, $470 million senior secured term loan facility and a five-year, $20 million senior secured revolving credit facility. Townsquare used $453 million of net proceeds from the Senior Secured Credit Facility plus cash on hand to redeem the outstanding 6.875% senior secured notes due 2026. Both the term loan and the credit revolver mature on February 19 of 2030.
