Townsquare Media expected to launch new credit facility this month

By Sara Rosenberg

New York, March 2 – Townsquare Media Inc. is anticipated to hold a bank meeting this month to launch a new senior secured credit facility, according to market sources.

RBC Capital Markets LLC is the left lead on the deal, sources said.

Proceeds will be used to help refinance the company’s existing senior secured credit facility and $410.9 million of 9% senior notes due 2019 issued by Townsquare Radio LLC and Townsquare Radio Inc.

Other funds for the refinancing will come from the issuance of new unsecured senior notes.

Townsquare Media is a Greenwich, Conn.-based diversified media and entertainment and digital marketing services company.

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