Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 150

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 150
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ure”) to the 2026 Secured Notes Indenture, to, among other things, eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in the 2026 Secured Notes Indenture, release the guarantees of the guarantors under the 2026 Secured Notes Indenture and eliminate related provisions and release all liens on the Collateral securing the obligations under the 2026 Secured Notes Indenture and eliminate related provisions.iHeartCommunications may redeem the 2026 Secured Notes at its option, in whole or in part, at the redemption prices set forth in the 2026 Secured Notes Indenture plus accrued and unpaid interest to the redemption date. 

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IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

5.25% Senior Secured Notes due 2027On August 7, 2019, iHeartCommunications entered into an indenture (the “2027 Secured Notes Indenture”) with Capital I, as guarantor, the subsidiary guarantors party thereto, and U.S. Bank National Association, as trustee and collateral agent, governing the $750.0 million aggregate principal amount of 2027 Senior Notes that were issued in a private placement to qualified institutional buyers under Rule 144A under the Securities Act, and to persons outside the United States pursuant to Regulation S under the Securities Act. The 2027 Secured Notes mature on August 15, 2027 and bear interest at a rate of 5.25% per annum. Interest is payable semi-annually on February 15 and August 15 of each year.On the Settlement Date, iHeartCommunications completed its previously announced exchange offers and consent solicitations whereby iHeartCommunications exchanged $743.0 million principal amount of the 2027 Secured Notes for $661.3 million principal amount of the 2030 First Lien Notes. As of December 31, 2024, $7.0 million of the 2027 Secured Notes remain on the Consolidated Balance Sheets.In connection with the completed exchange offers, iHeartCommunications and the Guarantors entered into the Second Supplemental Indenture (the “2027 Secured Notes Supplemental Indenture”) to the 2027 Secured Notes Indenture, to, among other things, eliminate substantially all of the restrictive covenants