secwatch.observer — SEC 8-K summary
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Issuer:     iHeartMedia, Inc. (IHRT)
CIK:        0001400891
Form:       8-K
Filed at:   2021-07-19T23:59:59+00:00
Accession:  0001400891-21-000034
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1400891/000140089121000034/0001400891-21-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1400891/000140089121000034/ihm-20210716.htm
  HTML page:      https://secwatch.observer/filing/0001400891-21-000034

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