PHILADELPHIA--(BUSINESS WIRE)--Entercom Communications Corp. (NYSE: ETM), a leading media and entertainment company and one of the two largest radio broadcasters in the United States, announced today that Entercom Media Corp. (the “Issuer”), its wholly owned subsidiary, has priced $325 million in aggregate principal amount of 6.500% senior secured second-lien notes due 2027. The sale of the Notes is expected to close on April 30, 2019, subject to customary closing conditions. The Issuer expects to use the net proceeds of the offering, cash on hand and availability under its revolving credit facility to partially repay existing indebtedness under its senior secured term loan facility.

The Notes will be fully and unconditionally guaranteed on a senior secured second-lien basis by each direct and indirect subsidiary of the Issuer, subject to the terms of the Indenture. The Notes and the related guarantees will be secured on a second-priority basis by liens on substantially all of the assets of the Issuer and the guarantors.

About Entercom Communications Corp.

Entercom is a leading American media and entertainment company reaching and engaging over 170 million people each month through its premier collection of highly rated, award winning radio stations, digital platforms and live events. As one of the country’s two largest radio broadcasters, Entercom offers integrated marketing solutions and delivers the power of local connection on a national scale with coverage of close to 90% of persons 12+ in the top 50 markets. Entercom is the #1 creator of live, original, local audio content and the nation’s unrivaled leader in news and sports radio. Learn more about Philadelphia-based Entercom at www.entercom.com, Facebook and Twitter (@Entercom).