Entercom Communications will refinance its unsecured debt and enter into a secured credit facility led by Bank of America Merrill Lynch, Morgan Stanley Senior Funding, RBC Capital Markets and Wells Fargo Securities as joint lead arrangers and bookrunners.

The company will enter into a new $520 million senior secured credit facility composed of a $60 million revolving credit facility with a 5-year maturity and a $460 million term loan B with a 7-year maturity.

The company will use most of the proceeds of the term loan to refinance its existing senior secured bank debt of $225 million, call its $220 million in 10.5% senior subordinated notes, including the related call premium and pay transaction fees and expenses.

As of September 30, 2016, the company had $443.6 million in senior debt, capital leases and senior notes and $9.9 million in cash.