Salem Media Group, Inc. announced that it has closed a new $26.0 million 3-year asset-based revolving credit facility with Siena Lending Group (the ?New Revolving Facility?), 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.
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