iHeartMedia Makes $500 Million Private Note Offering

Notes

iHEARTMEDIA's iHEARTCOMMUNICATIONS, INC. subsidiary is offering $500 million in Senior Secured Notes due JANUARY 2028 in a private offering.

The notes are being guaranteed on a senior secured basis by the parent company, iHEARTMEDIA CAPITAL I, LLC as well as the iHEARTCOMMUNICATIONS subsidiaries guaranteeing the company's term loan facility and are being secured by a first priority lien on the subsidiary (sans accounts receivable and related assets) and a second priority lien on accounts receivable and related assets.

Proceeds from the notes will be used to prepay at par part of its term loan facility and related interest and fees.

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