The amendments and extensions to the Term Loan Offers will be set forth in a Supplement No. 4 to the Confidential Information Memorandum dated
Original Offer – Consideration For Every |
Amended Offer – Consideration For Every |
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Title of Facility |
Mid Participation |
Low Participation |
Mid Participation |
Low Participation |
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Term Loan D Facility due 2019 |
new Term Loan F loans due 2021 of iHeartCommunications
CVRs of Broader Media |
new Term Loan F loans due 2021 of iHeartCommunications
CVRs of Broader Media |
new Term Loan F loans due 2021 of iHeartCommunications
CVRs of Broader Media |
new Term Loan F loans due 2021 of iHeartCommunications
CVRs of Broader Media |
||||||||
Term Loan E Facility due 2019 | new Term Loan G loans due 2021 of iHeartCommunications
CVRs of Broader Media |
new Term Loan G loans due 2021 of iHeartCommunications
CVRs of Broader Media |
new Term Loan G loans due 2021 of iHeartCommunications
CVRs of Broader Media |
new Term Loan G loans due 2021 of iHeartCommunications
CVRs of Broader Media |
||||||||
As a result of the amendment to the Term Loan Offers, the consideration being offered in the Mid Participation Scenario is the same as the consideration being offered in the Low Participation Scenario. The consideration being offered in the High Participation Scenario or the Term Loans Only Scenario has not been amended. iHeartCommunications also expects to make certain other technical amendments that will be described in Supplement No. 4 to the Confidential Information Memorandum.
The Term Loan Offers, which are only available to holders of Existing Term Loans, are being made pursuant to the Confidential Information Memorandum, and are exempt from registration under the Securities Act of 1933 (the “Securities Act”).
The new securities (the “New Securites”) of
The Term Loan Offers are being made, and the
Documents relating to the Term Loan Offers will only be distributed to holders of Term Loans that complete and return a letter of eligibility. Holders of Existing Term Loans that desire a copy of the letter of eligibility must contact
This press release is for informational purposes only and shall not constitute an offer to sell or exchange nor the solicitation of an offer to buy the
About
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on current iHeartCommunications management expectations. These forward-looking statements include all statements other than those made solely with respect to historical facts. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, whether or not iHeartCommunications will consummate the Offers, and if it does, the timing of the Offers. Many of the factors that will determine the outcome of the subject matter of this press release are beyond iHeartCommunications’ ability to control or predict. iHeartCommunications undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170413005544/en/
iHeartCommunications, Inc.
Media
Executive Vice President – Communications
or
Investors
Vice President – Investor Relations
Source: iHeartCommunications, Inc.
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