Radio One, Inc. Announces Amendment to Credit Agreement

by Hassahn Liggins - Posted Friday, December 21st, 2012. Category: URBAN

alfred ligginsRadio One, Inc. (the “Company” or “Radio One”) (Nasdaq: ROIAK and ROIA) announced that it has secured an amendment (the “Amendment”) to its March 2011 Credit Agreement (the “Credit Agreement”). The Amendment (i) modifies financial covenant levels with respect to the Company’s total-leverage, secured-leverage, and interest-coverage hurdles; (ii) increases the amount of cash the Company can net for determination of its net indebtedness tests, and (iii) extends the time for certain of the Credit Agreement’s call premium while reducing the time for its later and lower premium. The Amendment became effective as of December 19, 2012 and was secured with the unanimous consent of holders of its loans under the Credit Agreement.

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