Company: IHETW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001400891-25-000035
Chunk: 51

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 51
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 due 2030661,285 661,285 7.00% First Lien Notes due 2031178,443 178,443 10.875% Second Lien Notes due 2030675,165 675,165 Other secured subsidiary debt(2)4,696 5,008 Long-term debt fees(8,544)(8,974)Debt Premium278,106 289,752 Total Debt5,054,577 5,071,469 Less: Current portion22,511 22,501 Total long-term debt$5,032,066 $5,048,968 (1)Decrease is due to the quarterly amortization payment of $5.4 million equal to 0.25% of the original principal amount of the Term Loan Facility due 2029.(2)Other subsidiary debt consists of finance lease obligations maturing at various dates from 2026 through 2045.The Company’s weighted average interest rate was 9.3% and 9.4% as of March 31, 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 $3.6 billion and $4.1 billion as of March 31, 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 March 31, 2025, the Company was in compliance with all covenants related to our debt agreements.

11

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

Surety Bonds and Letters of CreditAs of March 31, 2025, the Company and its subsidiaries had outstanding surety bonds and commercial standby letters of credit of $8.6 million and $23.7 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 for which the occurrence of loss is probable