Salem Media Group, Inc. announced that it has closed a new US$26m 3-year asset-based revolving credit facility with Siena Lending Group, which refinanced its prior revolving facility with Wells Fargo Bank.
Obligations under the new revolving facility are secured by a first-priority lien on the company’s and its subsidiaries’ accounts receivable, inventory, deposit and securities accounts, certain real estate and related assets, and a second-priority lien on substantially all other assets of the company and its subsidiaries.
ABOUT SALEM MEDIA GROUP:
Salem Media Group is America’s leading multimedia company specialising in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing.
Source: Business Wire
