Company: IHETW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001400891-25-000046
Chunk: 63

Company: iHeartMedia, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 63
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,063,792 $5,048,968 (1)On May 22, 2025, iHeartCommunications borrowed $100.0 million under the ABL Facility, the proceeds of which were recorded as cash on the Balance Sheet as of June 30, 2025. (2)Quarterly amortization payments of $5.4 million (equal to 0.25% of the original principal amount) are required per the terms of the Term Loan Facility due 2029.(3)The difference between the carrying value of the exchanged 5.25% Senior Notes, 4.75% Senior Secured Notes, and 8.375% Senior Unsecured Notes and the principal amount of the 7.75% First Lien Notes due 2030, 7.00% First Lien Notes due 2031 and 10.875% Second Lien Notes due 2030 was recorded as debt premium and will be reduced as contractual interest payments are made.The Company’s weighted average interest rate was 9.2% and 9.4% as of June 30, 2025 and December 31, 2024, respectively. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $3.7 billion and $4.1 billion as of June 30, 2025 and December 31, 2024, respectively. Under the fair value hierarchy established by ASC 820-10-35, the market value of the Company’s debt is classified as either Level 1 or Level 2. As of June 30, 2025, the Company was in compliance with all covenants related to our debt agreements.

13

IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

Surety Bonds and Letters of CreditAs of June 30, 2025, the Company and its subsidiaries had outstanding surety bonds and commercial standby letters of credit of $8.5 million and $34.3 million, respectively. These surety bonds and letters of credit relate to various operational matters including insurance, lease and performance bonds as well as other items.

NOTE 6 – COMMITMENTS AND CONTINGENCIES

The Company and its subsidiaries are involved in certain legal proceedings arising in the ordinary course of business and, as required, have accrued an estimate of the probable costs for the resolution of those claims