Radio One plans $350 million secured term loan for refinancing

By Sara Rosenberg

New York, March 30 – Radio One Inc. expects to close on a new $350 million senior secured term loan concurrently with the closing of its proposed $350 million senior secured notes offering, according to sources.

Jefferies Finance LLC is the administrative agent on the term loan.

Proceeds from the loan and notes will be used to refinance the company’s existing senior secured credit facility, refinance outstanding debt of its subsidiaries TV One and TV One Capital Corp. and fund the purchase of the membership interest of an affiliate of Comcast Corp. in TV One.

Radio One is a Washington, D.C.-based diversified media company.

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