Entercom Communications subsidiary Entercom Radio entered into a new senior secured credit facility encompassing a $480 million term loan and a $60 million revolving credit facility.

Entercom used the proceeds to refinance its existing senior secured credit facility, issue call notice and fund redemption of $220 million senior notes due 2019. The effective date of redemption of notes is December 1, 2016.

According to a related 8-K filing, Bank of America served as administrative agent, swing line lender and L/C issuer with Morgan Stanley Senior Funding, RBC Capital Markets and Wells Fargo Bank serving as syndication agents. Merrill Lynch, Morgan Stanley Senior Funding, RBC Capital Markets and Wells Fargo Securities served as joint lead arrangers and joint bookrunners.