On Oct. 24, an 8-K filing with the Securities and Exchange Commission revealed that iHeartMedia offered its lenders under its Term Loan D and Term Loan E facilities, and certain priority guarantee noteholders, an out-of-court exchange offer with minimum participation thresholds.
It looks like this counter proposal was met with a thumbs down from iHeart’s lenders. That’s because iHeart has once again extended the deadline for participation in its Term Loan Offers and Exchange Offers — and the terms remain just as they did seven months ago.
