Tag: senior secured first lien notes

Beasley Broadcast Group, via subsidiary Beasley Mezzanine Holdings, LLC is electing to use the 30-day grace period for the interest payments due February 1, 2026 in the amount of approximately $8.5 million under the 9.200% senior secured second lien notes due 2028 and in the amount of approximately $1.7 million under the 11.000% senior secured first lien notes due August 1, 2028. In its filing with the Securities and Exchange Commission states, “The decision to utilize the grace period will not trigger an Event of Default under the indentures governing the Notes and the Company retains the right to make the interest payment to the holders of the Notes through the end of the grace period. The decision to utilize the grace period does not impact any of the Company’s business operations or obligations to advertisers, employees, suppliers or other stakeholders.” Beasley says it is “actively engaged in discussions with various stakeholders with respect to a number of potential alternatives regarding a restructuring of the Company’s outstanding indebtedness and strengthening its overall financial flexibility. At this time, no agreement has been reached regarding the Company’s indebtedness, and no assurances can be given as to the timing or outcome of this process.”