Beasley Broadcast Group (BBGI) said Tuesday it has settled its exchange and cash tender offers for holders of its 8.625% senior secured notes maturing in 2026.
Beasley said holders of about $194.7 million of the notes exchanged their holdings into 9.2% senior secured notes due 2028 at an exchange ratio of 95%; a pro-rate share of 179,384 common shares; and a consent fee of $5 per $1,000 principal amount of the notes.
The company said it purchased $68 million of notes at a purchase price of 62.5% plus accrued and unpaid interest as part of the tender offer.
The company also settled its offering of $30.9 million of 11% superpriority senior secured notes due 2028.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.