Entercom files shelf for $250 million debt, $250 million stock, preferred stock

New York, Feb. 11 - Entercom Communications Corp. filed a shelf registration with the Securities and Exchange Commission covering $250 million of class A common stock and preferred stock and $250 million of debt securities to be issued by its Entercom Radio LLC and Entercom Capital, Inc. units.

The Bala Cynwyd, Pa. radio broadcaster said it would use proceeds for general corporate purposes, including repaying or refinancing its senior bank facility, or redeeming or repurchasing its convertible preferred securities or term income deferrable equity securities (TIDES), and for acquisitions, working capital and other capital expenditures.

For the year to Dec. 31, 2001, Entercom had an earnings to fixed charge ratio of 1.90 times compared to 2.65 times for the same period of 2000.

Entercom said it is one of the five largest radio broadcasting companies in the United States based upon pro forma 2000 revenues for pending acquisitions. Purchases of three stations in Denver and two in Greensboro are pending.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.