#United States #Bondholders #Miami #Forbearance Agreement #Spanish Broadcasting

Spanish Broadcasting System, Inc. Updates on Debt Management

Miami, March 13, 2026 - Spanish Broadcasting System, Inc. (SBS) has recently announced a significant development regarding its finance management—specifically related to its 9.750% Senior Secured Notes, which matured on March 1, 2026. The company is currently engaged in critical discussions with bondholders representing a majority of the outstanding notes.

Overview of the Forbearance Agreement

SBS has entered into a forbearance agreement with these bondholders to address the maturity of the notes while concurrently working towards enhancing its capital structure. The essence of this agreement allows the bondholders, who hold a significant stake in the notes, to refrain from invoking certain rights and actions that could arise from the maturity for a period of 30 days. This window is meant to facilitate constructive negotiations, allowing both SBS and its stakeholders to explore solutions collectively.

Ongoing Negotiations

During this timeframe, SBS is optimistically pursuing a consensual agreement that would not only resolve the immediate financial pressures but also position the company more robustly for future challenges. The engaging discussions are described as constructive, indicating a positive forward momentum in negotiations that are essential for the company's financial stability.

However, it is important to note that despite the progress, there is no guarantee that an agreement will materialize, which underscores the uncertainties inherent in the financial agreements of publicly traded companies.

Commitment to Stakeholders

Throughout this process, SBS reaffirms its commitment to its audiences, customers, employees, and partners. The company’s leadership recognizes the long-standing relationships it has crafted over four decades and aims to maintain these connections as they navigate through these financial adjustments. The focus remains on sustaining operations that serve their diverse audience effectively.

About the Company

Spanish Broadcasting System, Inc. is a key player in the Hispanic media landscape, owning and operating numerous radio stations across major U.S. markets including Los Angeles, New York, Miami, Houston, Chicago, and more. The company delivers a variety of programming across genres such as Tropical, Regional Mexican, and Spanish Adult Contemporary formats, ensuring a rich auditory experience for its audience. Additionally, SBS manages digital platforms like LaMusica and HitzMaker, which cater to the evolving content preferences of the Latino community.

In conjunction with its broadcasting ventures, SBS also emphasizes digital marketing solutions via Digidea, aiming to extend its reach and influence in the digital domain. This multifaceted approach highlights their intent to engage with and support the Hispanic community effectively.

As circumstances evolve, SBS remains vigilant and committed to fostering robust relationships within the industry while adapting strategically to changing financial landscapes. Moving forward, the company will continue to keep stakeholders updated as negotiations advance and as it aims to stabilize its fiscal operations.