Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 139

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 139
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974)(12,268)Debt Premium(5)293,999 — Total debt5,071,469 5,215,150 Less: Current portion22,501 340 Total long-term debt$5,048,968 $5,214,810 (1)On November 6, 2024, the Company amended its ABL Credit Agreement that provides the $450 million senior secured asset-based revolving credit facility (the "ABL Facility"), providing for, among other things, the applicable rate with respect to the loans provided thereunder to be increased by 0.50% and certain of the covenants and default provisions to become amended. Refer to the 'ABL Amendment' section below for more information. As of December 31, 2024, the ABL Facility had a facility size of $450.0 million, no outstanding borrowings and $23.7 million of outstanding letters of credit, resulting in $426.3 million of borrowing base availability.  (2)On December 20, 2024, the Company completed its previously announced exchange offers and consent solicitations. Refer to the 'Debt Exchange Transaction,' 'New Indentures; New Term Loan Credit Agreement,' and 'Supplemental Indentures' sections below for more information.(3)Subsequent to the Debt Exchange Transaction, the 6.375% Senior Notes and the 5.25% Senior Notes are no longer secured.(4)Other subsidiary debt consists of finance lease obligations maturing at various dates from 2025 through 2045.(5)The difference between the carrying value of the exchanged 5.250% Senior Secured Notes, 4.750% Senior Secured Notes, and 8.375% Notes and the principal amount of the 7.75% First Lien Notes due 2030, 7.00% First Lien Notes due 2031 and the 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 9.4% and 7.3% as of December 31, 2024 and December 31, 2023, respectively. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $4.1 billion and $4.2 billion as of December 31, 2024 and December