Options?
In advance of MONDAY’s trial in its suit against bondholders seeking to declare it in default and accelerate bond payments, iHEARTMEDIA filed a disclosure statement with the SEC detailing proposals on the table at mediation that have been submitted by the bondholders and iHEART.
In the Form 8-K’s exhibits, a term sheet for the bondholders’ proposal shows that the creditors are suggesting a 50 bps interest rate reduction and one year maturity extension on each tranche that also provides for a junior debt buyback cash allowance of $1.2 billion (…
Read the full article at: http://www.allaccess.com/net-news/archive/story/153653/iheartmedia-reveals-debt-settlement-proposals-as-t