secwatch.observer — SEC 8-K summary
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Issuer:     iHeartMedia, Inc. (IHRT)
CIK:        0001400891
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0001193125-24-283675
Event type: debt
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iHeartMedia completes $4.8B debt exchange, extends maturities by three years and reduces debt by over $440M
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- Approximately $4.8B (92.2%) of existing debt participated in exchange; new notes issued with maturities 2029–2031.
- Total debt reduced by over $440M; annual net cash interest payments expected to remain relatively flat.
- 94.4% of 2026 Secured Notes, 99.1% of 2027 Secured Notes, 92.1% of Unsecured Notes exchanged.
- New debt includes 9.125% First Lien 2029, 7.75% First Lien 2030, 7.00% First Lien 2031, and 10.875% Second Lien 2030 notes.
- Maturities extended by three years, providing flexibility to execute business strategy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400891/000119312524283675/0001193125-24-283675-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400891/000119312524283675/d854532d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-283675

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