What About iHeart’s Debt?

And now to the issue everyone in the industry seems to worry about, wonder about, and whisper about. iHeart’s debt. CFO Richard Bressler said, while staying focused on maximizing the value of the business, the company continues to look for ways to strengthen its capital structure. “Our main objective is to position the company for long-term growth and success and we’re working deliberately to advance a number of initiatives to help us achieve this goal.”

As of December 31, 2015 iHeartMedia Inc.’s debt was $20.4 billion, $356 million lower than year-end 2015. The weighted cost of debt is 8.5 %. iHeartMedia paid $1.8 billion in interest expense, which was the largest use of cash, according to Bressler.