Cumulus Media is raising $610 million through the sale of senior notes in the 144a private placement market. The FM and AM radio broadcasting stations operator appointed JP Morgan, UBS, Macquarie Capital, RBC and ING as the joint bookrunning managers for the deal. The company intends to use the proceeds to repay in full all outstanding amounts under the term loan facility under its existing senior secured credit facilities and pay fees and expenses related to the offering of notes. The notes carry a coupon rate of 7.75%, and are due to mature on May 1, 2019.

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