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IHeartMedia unit again extends debt exchange, term loan offers

IHeartMedia Inc. unit iHeartCommunications Inc. again extended private offers to holders of certain series of the company's outstanding debt securities to exchange the existing notes for new securities of iHeartMedia, CC Outdoor Holdings Inc. and iHeartCommunications, and the related solicitation of consents from holders of existing notes to certain amendments to the indentures and security documents governing the existing notes.

The exchange offers and consent solicitations, which were previously scheduled to expire Dec. 22, at 5 p.m. ET, will now expire on Jan. 5, 2018, at 5 p.m. ET. The deadline to withdraw tendered existing notes in the exchange offers and revoke consents in the consent solicitations has also been extended to 5 p.m. ET on Jan. 5, 2018.

IHeartCommunications is extending the exchange offers and consent solicitations to continue talks with holders of existing notes regarding the terms of the exchange offers and to continue discussions with lenders under its term loan D and term loan E facilities in connection with the concurrent private offers made to such lenders, the company said Dec. 21.

As of 5 p.m. ET on Dec. 20, about $34 million of existing notes, representing about 0.4% of outstanding existing notes, had been tendered into the exchange offers.

Separately, iHeartCommunications said Dec. 21 that it extended the deadline for participation in the private offers to lenders under its term loan D and term loan E facilities to amend the existing term loans. The term loan offers have been extended to 5 p.m. ET on Jan. 5, 2018.