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iHeartCommunications to pay down term loan with notes proceeds
By Sara Rosenberg
New York, Nov. 18 – iHeartCommunications Inc. plans to prepay at par $500 million of its term loan borrowings using a portion of the proceeds from a $500 million senior secured notes offering and cash on hand, according to a market source.
The company will also use the notes and cash to pay accrued and unpaid interest, and related fees and expenses.
iHeartCommunications is a San Antonio-based audio company.
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