Beasley Broadcast Group Completes $300 Million Bank Syndication With the Bank of Montreal.Business Editors NAPLES, Fla.--(BUSINESS WIRE)--Sept. 5, 2000 New Credit Facility to Support Recent Acquisitions Beasley Broadcast Group Beasley Broadcast Group, Inc. NASDAQ: BBGI, based in Naples, Florida, is an owner/operator of radio stations in the United States. As of November, 2006, the company owned 16 AM stations and 26 FM stations. , Inc. (Nasdaq:BBGI BBGI Bloc de Branche Gauche Incomplet (French) ), a large- and mid-size market radio broadcaster, today announced the closing of a new $300 million, approximately eight-year syndicated senior credit facility lead-managed by the Bank of Montreal “BMO” redirects here. For the mathematics competition, see British Mathematical Olympiad. Bank of Montreal/Banque de Montréal (TSX: BMO, NYSE: BMO) is Canada's fourth largest bank[1], and is classified as a Domestic Chartered Bank (Schedule I). . The new $300 million facility replaces the Company's prior $150 million facility with the Bank of Montreal. Beasley intends to use the new facility to finance certain recently announced acquisitions, for working capital and other general corporate purposes. The facility will also provide the Company with additional debt capacity for potential future acquisitions. In addition to the Bank of Montreal, other agents in the syndicate include Banc of America, Fleet National Bank and The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. . Beasley Broadcast Group Chairman and Chief Executive Officer George G. Beasley, stated, "This new facility allows us to continue the prudent growth strategy which has positioned Beasley with an average market revenue share of approximately 31% and the first- or second-ranked cluster in five of the nine markets in which we operate. The confidence expressed by these internationally respected financial institutions in Beasley Broadcast Group and our long-term strategy is extremely gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. ." Founded in 1961, Beasley Broadcast Group, Inc. is the nation's 16th largest radio broadcasting The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company. Upon completion of pending transactions, the Company will own or operate 42 stations (26 FM and 16 AM) located in eleven large- and mid-size markets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . This news announcement contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Words or expressions such as "intend" or "expect" or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in the Company's reports filed with the U.S. Securities and Exchange Commission. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the radio broadcast industry generally and, accordingly, the Company's actual performance and results may vary from those stated herein, and the Company undertakes no obligation to update the information contained herein. |
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