12-31-12
Emmis announced completion of its new $100 million Credit Agreement. Money from the deal will be used to refinance Emmis' existing Term Loan B, Extended Term Loan B, Senior Unsecured Notes, and for general spending. The new agreement is an $80 million term loan and $20 million revolving line of credit with a five year maturity. The company expects that the deal will enhance steps alread taken to create shareholder value by reducing interest expenses and targeting free cash flow generated for principal repayments.
