Entercom to price $100 million tap of 6½% notes due 2027 on Tuesday

By Paul A. Harris

Portland, Ore., Dec. 10 – Entercom Communications Corp. plans to price a $100 million add-on to the Entercom Media Corp. 6½% senior secured second-lien notes due May 1, 2027 in a Tuesday drive-by, according to market sources.

BofA Securities Inc. is managing the Rule 144A and Regulation S offering.

The notes are non-callable before May 1, 2022.

Entercom Media, a subsidiary of Entercom Communications, is a Bala Cynwyd, Pa.-based media and entertainment company, formerly CBS Radio Inc.

Entercom Media plans to use the proceeds from the add-on to repay debt under its term loan.

The original $325 million issue priced in April 2019.

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