Beasley Media Group is giving itself a little more breathing room on debt tied to its 2024 refinancing, extending a key clause on its 2028 bonds by 11 days as it continues to manage remaining obligations from its earlier 2026 notes.
On October 30, Beasley Mezzanine Holdings, LLC, the company’s financing subsidiary, filed paperwork to adjust two of its bond issues: the 9.200% Senior Secured Second Lien Notes and the 11.000% Senior Secured First Lien Notes, both due in 2028.
The change moves a built-in deadline known as the “springing maturity date” from November 3 to November 14, 2025.
That clause says the 2028 bonds could come due early if any of Beasley’s older 8.625% Senior Secured Notes due 2026 are still unpaid by that date. By extending the deadline by 11 days, Beasley gives itself a little extra time to fully wrap up or refinance those remaining 2026 notes.
This new filing connects directly to the company’s October 2024 debt exchange and tender offer, when Beasley swapped most of its 2026 debt for new 2028 bonds. That deal had strong investor support, as 98.4% of noteholders agreed to the exchange, helping Beasley cut debt and push maturities further into the future.
The supplemental indentures were executed with Wilmington Trust, National Association, serving as trustee and collateral agent. Beasley Broadcast Group General Counsel Chris Ornelas signed the SEC filing, while CEO Caroline Beasley executed the agreement on behalf of the issuer.
