As part of the 8K filing, it was revealed that, on June 22, the iHeartMedia debt holders offered an interest rate cut of “To Be Determined” and extend the maturity by a year to 2020. They also wanted to be assured their investments would be paid back if iHeartMedia failed to pay some of its unsecured bonds, including those due in 2018. On Monday, iHeart sent debt holders a counter (READ IT HERE). The company wanted the interest rate cut by 75 basis points and a one-year extension.
