CUMULUS MEDIA Announces Successful Completion of $175 Million Debt Paydown
Retrieved on:
Friday, June 25, 2021
Following the paydown, the ABL Revolver due 2025 is undrawn and available as liquidity for general corporate purposes.
Key Points:
- Following the paydown, the ABL Revolver due 2025 is undrawn and available as liquidity for general corporate purposes.
- Represents $294 million of unrestricted cash on hand as of March 31, 2021, less $175 million used to paydown debt as described herein plus $83 million of availability under the ABL Revolver due 2025.
- CUMULUS MEDIA (NASDAQ: CMLS) is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month wherever and whenever they want it.
- CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.