Beasley Broadcast entered into a new credit agreement for a $225 million term loan B and a $20 million revolving credit facility.
According to a related 8-K filing, proceeds from new credit facilities were primarily used to repay old credit facilities.
The new credit facilities are secured by substantially all assets of the company, the borrower and their material subsidiaries.
The term loan facility matures on November 1, 2023 and will amortize in quarterly installments in aggregate annual amounts equal to 1.00% of the original principal amount of the term loan facility.
