Radio One, Inc. closed on a new senior secured credit facility, with Guggenheim Securities Credit Partners, LLC, as administrative agent, The Bank of New York Mellon, as collateral agent and Guggenheim Securities, LLC sole lead arranger and sole book running manager. 

The 2017 credit facility provides for $350 million in term loan borrowings, all of which was advanced and outstanding on the date of the closing of the transaction.
 
The new facility matures on the earlier of APRIL 18th, 2023 or, if the debt is not repaid or refinanced, Ninety-one days before the maturity of either of the Company’s 7.375% Senior Secured Notes due 2022 or the Company’s 9.25% Senior Subordinated Notes due 2020.

Proceeds from the new credit facility were used to prepay in full the company’s existing senior secured credit facility, which was terminated with the payment.