iHeartCommunications, Inc. is extending the private offers to holders of certain series of iHeartCommunications´ outstanding debt securities to exchange the Existing Notes for new securities of iHeartMedia, Inc., CC Outdoor Holdings, Inc. and iHeartCommunications, and the related solicitation of consents from holders of Existing Notes to certain amendments to the indentures and security documents governing the Existing Notes, the company said.
The Exchange Offers and Consent Solicitations were previously scheduled to expire on June 9, 2017, at 5:00 p.m., New York City time, and will now expire on June 23, 2017, at 5:00 p.m., New York City time.
The deadline to withdraw tendered Existing Notes in the Exchange Offers and revoke consents in the Consent Solicitations has also been extended to 5:00 p.m., New York City time, on June 23, 2017.
iHeartCommunications is extending the Exchange Offers and Consent Solicitations to continue discussions with holders of Existing Notes regarding the terms of the Exchange Offers and to continue discussions with lenders under its Term Loan D and Term Loan E facilities in connection with the concurrent private offers made to such lenders, which iHeartCommunications announced today will now expire at 5:00 p.m., New York City time, on June 23, 2017.
As of 5:00 p.m., New York City time, on June 7, 2017, an aggregate amount of approximately USD 46.4 million of Existing Notes, representing approximately 0.6% of outstanding Existing Notes, had been tendered into the Exchange Offers.
iHeartMedia, Inc. (PINK: IHRT), the parent company of iHeartCommunications, Inc., is a global media and entertainment companies. The company specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The company is dedicated to using the latest technology solutions to transform the company´s products and services for the benefit of its consumers, communities, partners and advertisers, and its outdoor business reaches over 35 countries across five continents, connecting people to brands using innovative new technology.