Townsquare Media to launch $305 million credit facility on Tuesday

By Sara Rosenberg

New York, March 13 – Townsquare Media Inc. is scheduled to hold a bank meeting at 9:30 a.m. ET on Tuesday to launch a $305 million senior secured credit facility, according to a market source.

RBC Capital Markets LLC, Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc., Macquarie Capital (USA) Inc. and Jefferies Finance LLC are the leads on the deal.

The facility consists of a $50 million five-year revolver and a $255 million seven-year term loan B, the source 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 senior notes.

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

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