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Stock Market Insights | Seeking Alpha
Stock Market Insights | Seeking Alpha
Urban One announces pricing of $825M senior secured notes offering
Jan. 08, 2021 4:45 PM ETUrban One, Inc. (UONE)By: Akanksha Bakshi, SA News Editor
- Urban One (NASDAQ:UONE) has priced an offering of $825M in aggregate principal amount of its 7.375% senior secured notes due 2028; notes to bear interest semi-annually at a rate equal to 7.375% p.a and were offered at par value.
- Net proceeds from the offering, to be used together with cash on hand, to repay or redeem (1) the loans outstanding under that certain Credit Agreement, dated as of April 18, 2017, (2) the Company's 8.750% Senior Secured Notes due December 2022, (3) the Company's 7.375% Senior Secured Notes due 2022, (4) the loans outstanding under that certain Credit Agreement, dated as of December 4, 2018.
- Expected to close on or about January 25, 2021.