Salem Media Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2021

Long-term debt consists of the following:


	December 31, 2020			September 30, 2021

	(Dollars in thousands)
7.125% Senior Secured Notes	$	—		$	114,731
Less unamortized discount and debt issuance costs based on imputed interest rate of 7.64%		—			(4,048	)

7.125% Senior Secured Notes net carrying value		—			110,683

6.75% Senior Secured Notes		216,341			98,815
Less unamortized debt issuance costs based on imputed interest rate of 7.10%		(2,577	)		(939	)

6.75% Senior Secured Notes net carrying value		213,764			97,876

Asset-Based Revolving Credit Facility principal outstanding (1)		5,000			—
SBA Paycheck Protection Program loans		—			—

Long-term debt less unamortized discount and debt issuance costs	$	218,764		$	208,559

Less current portion		(5,000	)		—

Long-term debt less unamortized discount and debt issuance costs, net of current portion	$	213,764		$	208,559

Principle Repayment Requirements Under Long Term Agreements Outstanding

Principal repayment requirements under all long-term debt agreements outstanding at September 30, 2021 for each of the next five years and thereafter are as follows:

	Amount
For the Year Ended September 30,	(Dollars in thousands)
2022	$	—
2023		—
2024		98,815
2025		—
2026		—
Thereafter		114,731

	$	213,546

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details