We Were On A Break: Cumulus is pricing a new $525 million senior term secured loan due March 2026. Proceeds from the issuance, along with cash on hand, will be used to pay down and refinance its existing term loan. Upon closing, Cumulus will have fully refinanced the $1.3 billion term loan it assumed upon emergence from Chapter 11; debt will consist of the $525 million new term loan and $500 million on secured bonds issued in June, representing a $275 million reduction in total debt since emergence. See complete details here.