Townsquare Media to repay portion of credit facility with IPO proceeds

By Toni Weeks

San Luis Obispo, Calif., June 24 – Townsquare Media LLC plans to pay down a portion of its senior secured credit facility with the proceeds of its initial public offering of common shares, according to an S-1 filing with the Securities and Exchange Commission.

The company will also repay its outstanding 10% senior PIK notes due 2019 and pay related fees and expenses with the stock proceeds.

The media and entertainment company is based in Greenwich, Conn.

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