iHeartMedia reprices term loans, cuts rate 75 bps; prepays $250M, saves ~$13M/yr

iHeartMedia, Inc.

Reduces LIBOR margin on Second Amendment Incremental Term Loans from 4.00% to 3.25%.
Lowers LIBOR floor to 0.50% from 0.75%; Base Rate floor to 1.50% from 1.75%.
Prepaid $250M of term loans with cash on hand, reducing annual interest by ~$13M.
New 6-month soft call protection on second amendment term loans from July 16, 2021.
Amendment consented by Required Lenders; non-consenting lenders assigned at par.

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