Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 97

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 97
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 the future. 

We frequently evaluate strategic opportunities. We expect from time to time to pursue other strategic opportunities such as acquisitions or disposals of certain businesses, which may or may not be material. 

1 Total available liquidity defined as cash and cash equivalents plus available borrowings under the ABL Facility.  We use total available liquidity to evaluate our capacity to access cash to meet obligations and fund operations.

47

Sources of Capital

On December 20, 2024, we competed the Debt Exchange Transaction. For more information about the Debt Exchange Transaction, refer to Note 6, Long-Term Debt. We had the following debt outstanding, net of cash and cash equivalents:

(In thousands)December 31,20242023Asset-based Revolving Credit Facility due 2027(1)$— $— Term Loan Facility due 2026(2)5,095 1,864,032 Incremental Term Loan Facility due 2026(2)1,500 401,220 Term Loan Facility due 2029(2)2,145,724 — 6.375% Senior Notes due 2026(2)(3)44,644 800,000 5.25% Senior Notes due 2027(2)(3)6,983 750,000 8.375% Senior Unsecured Notes due 2027(2)72,388 916,357 4.75% Senior Secured Notes due 2028(2)276,868 500,000 9.125% First Lien Notes due 2029(2)717,588 — 7.75% First Lien Notes due 2030(2)661,285 — 7.00% First Lien Notes due 2031(2)178,443 — 10.875% Second Lien Notes due 2030(2)675,165 — Other subsidiary debt5,008 3,367 Original issue discount(4,247)(7,558)Long-term debt fees(8,974)(12,268)Debt Premium(4)293,999 — Total Debt$5,071,469 $5,215,150 Less: Debt Premium293,999 — Less: Cash and cash equivalents259,580 346,382 Net Debt(5)$4,517,890 $4,868,768 

(1)On November 6