secwatch.observer — SEC 8-K summary
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Issuer:     iHeartMedia, Inc. (IHRT)
CIK:        0001400891
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0001193125-24-260386
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iHeartMedia launches exchange offers for ~$2.97B of existing notes and term loans
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- Existing Notes: $800M 6.375% 2026, $750M 5.25% 2027, $500M 4.75% 2028 Secured, $916M 8.375% 2027 Unsecured.
- Supporting holders (85.4% of total Existing Debt) have agreed to tender and consent.
- Two paths: Comprehensive Offers (95% participation) or Alternative Offers with lower thresholds.
- Early tender deadline Nov 29, 2024; final expiration Dec 16, 2024. No withdrawal rights.
- New notes have higher coupons up to 10.875% vs existing 8.375% Unsecured; maturities extended to 2029-2031.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400891/000119312524260386/0001193125-24-260386-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400891/000119312524260386/d897021d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-260386

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer