Benzinga | Mar 11, 2021 08:30AM EST

Entercom Seeks $500M Via Private Debt Offering

* Media and entertainment company Entercom Communications Corp (NYSE: ETM) subsidiary Entercom Media Corp proposed $500 million senior secured second-lien notes due 2029 in a secondary private offering.

* The offering proceeds would be utilized to repay 7.25% senior notes due 2024 and partially repay existing senior credit facilities.

* Entercom had a total long-term debt balance of $1.7 billion as of December 31, 2020.

* Price action: ETM shares are trading higher by 1.03% at $5.90 in the premarket session on the last check Thursday.