Urban One Prices $825M of Senior Secured Notes Offering

RADIO ONLINE | Friday, January 8, 2021 | 4:54pm CT

Urban One

Urban One has priced an offering of $825 million of its 7.375% senior secured notes due 2028 to institutional buyers and to persons outside the U.S. The notes will bear interest semi-annually at a rate equal to 7.375% per annum and were offered at par value. The closing of the offering is expected to take place on or about January 25, subject to customary closing conditions. The company intends to use the net proceeds from the offering, together with cash on hand, to repay or redeem the loans outstanding.