Urban One Launches Exchange and Tender Offers for Senior Secured Notes
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Urban One Inc. announced early results for debt transactions involving its 7.375% Senior Secured Notes due 2028. The company launched an exchange offer for new 7.625% Second Lien Senior Secured Notes due 2031 and cash, a tender offer to purchase up to $185 million of existing notes for $111 million in cash, and a subscription offer for up to $60.6 million in new first lien notes. Required consents were received to amend the indenture. Completion is subject to refinancing existing credit facilities.
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