| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Radio One Inc. > News item |
Radio One amends loan, modifying call premiums and financial covenants
By Sara Rosenberg
New York, Dec. 19 - Radio One Inc. amended its credit facility, extending the 102 call protection for six months to September 2014 and reducing the 101 soft call premium to six months from one year, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
In addition, the amendment revised the total leverage (see table 1), secured leverage (see table 2) and interest coverage ratios (see table 3). It also increased the amount of cash the company can net for determination of its net debt tests.
The amendment was completed on Dec. 19.
Credit Suisse AG is the administrative agent on the deal.
Radio One is a Lanham, Md.-based diversified media company.
Table 1: Total Leverage Ratio
Fiscal Quarter Ending Ratio
September 30, 2012 8.50:1.00
December 31, 2012 8.50:1.00
March 31, 2013 8.50:1.00
June 30, 2013 8.50:1.00
September 30, 2013 8.50:1.00
December 31, 2013 8.50:1.00
March 31, 2014 8.25:1.00
June 30, 2014 8.25:1.00
September 30, 2014 8.00:1.00
December 31, 2014 7.50:1.00
March 31, 2015 6.50:1.00
June 30, 2015 6.50:1.00
September 30, 2015 6.50:1.00
December 31, 2015 and thereafter 6.00:1.00
Table 2: Senior Secured Leverage Ratio
Fiscal Quarter Ending Ratio
September 30, 2012 4.50:1.00
December 31, 2012 4.50:1.00
March 31, 2013 4.50:1.00
June 30, 2013 4.50:1.00
September 30, 2013 4.50:1.00
December 31, 2013 4.50:1.00
March 31, 2014 4.25:1.00
June 30, 2014 4.25:1.00
September 30, 2014 4.00:1.00
December 31, 2014 3.75:1.00
March 31, 2015 3.25:1.00
June 30, 2015 3.25:1.00
September 30, 2015 3.25:1.00
December 31, 2015 and thereafter 2.75:1.00
Table 3: Interest Coverage Ratio
Fiscal Quarter Ending Ratio
September 30, 2012 1.25:1.00
December 31, 2012 1.10:1.00
March 31, 2013 1.10:1.00
June 30, 2013 1.10:1.00
September 30, 2013 1.10:1.00
December 31, 2013 1.10:1.00
March 31, 2014 1.20:1.00
June 30, 2014 1.20:1.00
September 30, 2014 1.20:1.00
December 31, 2014 1.25:1.00
March 31, 2015 1.25:1.00
June 30, 2015 1.25:1.00
September 30, 2015 1.25:1.00
December 31, 2015 and thereafter 1.50:1.00
© 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.