Reuters is reporting that a group of iHeartMedia lenders has signed a cooperation agreement to oppose the debt overhaul the company has been working on for months. According to Reuters, the creditors who signed the pact told iHeart they represent more than half of the term loans holders, “and are seeking to put pressure on the company to either significantly improve on its loan swap offer, or propose a new way to tackle the debt altogether.” The Reuters report cites a confidential source and the company declined to comment.
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