iHeartCommunications Once Again Extends Deadline For Its Debt Swap Proposals

Another Extension

It is not GROUNDHOG DAY, but iHEARTCOMMUNICATIONS, with its iHEARTMEDIA, INC. and CC OUTDOOR HOLDINGS, INC. subsidiaries is yet again extending the deadline for its latest attempts to swap debt in two exchange offers, giving the company more time to negotiate with its lenders.

The deadline for the two offers, one a proposal to holders of certain series of iHEARTCOMMUNICATIONS’ existing notes to trade them for new securities along with a consent solicitation for consent to amend the indentures and security documents governing the existing notes and the other a swap proposing to convert Term Loan D and Term Loan E facilities to amended facilities or new loans and securities of the companies and/or the controversial BROADER MEDIA, LLC holding company, previously extended from APRIL 14th to the 21st and then again to APRIL 28th and MAY 12th, will now expire on FRIDAY, AUGUST 4th at 5p (ET). Terms have not been amended with the extension.

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