iHeartCommunications seeks consents for more credit facility debt

New York, Sept. 27 – iHeartCommunications, Inc. announced that it is seeking consents from holders of its senior notes due 2021 to allow it to increase the debt under its credit facilities by $500 million to $17,270,638,000.

The company will pay a total consent fee of $8.6 million, to be divided among those noteholders who deliver consents.

The solicitation ends at 5 p.m. ET on Oct. 3.

Completion of the solicitation depends on conditions including the receipt of consents from holders of a majority of the notes, excluding any notes held by the company or its affiliates.

Moelis & Co. LLC (866 980-2551) is solicitation agent. Global Bondholder Services Corp. (212 430-3774 or 866 470-3900) is tabulation agent and information agent.

iHeartCommunications is a subsidiary of iHeartMedia, Inc., a San Antonio-based media and entertainment company.

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