SAN ANTONIO–(BUSINESS WIRE)–iHeartCommunications, Inc. (“iHeartCommunications”) today appear that it is extending the clandestine offers (the “Exchange Offers”) to holders of assertive alternation of iHeartCommunications’ outstanding debt balance (the “Existing Notes”) to barter the Existing Notes for new balance (the “New Securities”) of iHeartMedia, Inc., CC Alfresco Holdings, Inc. and iHeartCommunications, and the accompanying address of consents (the “Consent Solicitations”) from holders of Existing Notes to assertive amendments to the indentures and aegis abstracts administering the Existing Notes.
The Barter Offers and Consent Solicitations were ahead appointed to expire on August 18, 2017, at 5:00 p.m., New York City time, and will now expire on September 8, 2017, at 5:00 p.m., New York City time. The borderline to abjure tendered Existing Notes in the Barter Offers and abjure consents in the Consent Solicitations has additionally been continued to 5:00 p.m., New York City time, on September 8, 2017. iHeartCommunications is extending the Barter Offers and Consent Solicitations to abide discussions with holders of Existing Notes apropos the agreement of the Barter Offers and to abide discussions with lenders beneath its Term Loan D and Term Loan E accessories in affiliation with the circumstantial clandestine offers fabricated to such lenders, which iHeartCommunications appear today will now expire at 5:00 p.m., New York City time, on September 8, 2017.
As of 5:00 p.m., New York City time, on August 16, 2017, an accumulated bulk of about $45.5 actor of Existing Notes, apery about 0.6% of outstanding Existing Notes, had been tendered into the Barter Offers.
The agreement of the Barter Offers and Consent Solicitations accept not been adapted and abide the aforementioned as set alternating in the Adapted and Restated Offering Circular and Consent Address Statement, anachronous April 14, 2017, as supplemented by Supplement No. 1 (the “Offering Circular”).
The Barter Offers and Consent Solicitations, which are alone accessible to holders of Existing Notes, are actuality fabricated pursuant to the Offering Circular, and are absolved from allotment beneath the Balance Act of 1933 (the “Securities Act”). The New Securities, including the new debt of iHeartCommunications and accompanying guarantees, will be offered alone in assurance on exemptions from allotment beneath the Balance Act. The New Balance accept not been registered beneath the Balance Act, or the balance laws of any accompaniment or added jurisdiction, and may not be offered or awash in the United States after allotment or an applicative absolution from the Balance Act and applicative accompaniment balance or dejected sky laws and adopted balance laws.
Abstracts apropos to the Barter Offers and Consent Solicitations will alone be broadcast to holders of the Existing Notes that complete and acknowledgment a letter of eligibility. Holders of Existing Notes that admiration a archetype of the letter of accommodation charge acquaintance All-around Bondholder Casework Corporation, the barter abettor and advice abettor for the Barter Offers and Consent Solicitations, by calling toll-free (866) 470-3700 or at (212) 430-3774 (banks and allowance firms) or appointment the afterward website to complete and bear the letter of accommodation in cyberbanking form: http://gbsc-usa.com/eligibility/ihc-bondoffers.
This columnist absolution is for advisory purposes alone and shall not aggregate an action to advertise or barter nor the address of an action to buy the New Balance or any added securities. The Barter Offers and Consent Solicitations are not actuality fabricated to any being in any administration in which the offer, address or auction is unlawful. Any offers of the New Balance will be fabricated alone by agency of the Offering Circular.
About iHeartMedia, Inc./iHeartCommunications, Inc.
iHeartMedia, Inc. (PINK:IHRT), the ancestor aggregation of iHeartCommunications, Inc., is one of the arch all-around media and ball companies. The aggregation specializes in radio, digital, outdoor, mobile, social, alive events, on-demand ball and advice casework for bounded communities, and uses its unparalleled civic adeptness to ambition both nationally and locally on account of its announcement partners. The aggregation is committed to application the latest technology solutions to transform the company’s articles and casework for the account of its consumers, communities, ally and advertisers, and its alfresco business alcove over 34 countries above bristles continents, abutting bodies to brands application avant-garde new technology.
Cautionary Note Apropos Forward-Looking Statements
This columnist absolution contains advanced statements based on accepted iHeartCommunications administration expectations. These advanced statements accommodate all statements added than those fabricated alone with account to absolute facts. Numerous risks, uncertainties and added factors may account absolute after-effects to alter materially from those bidding in any advanced statements. These risks, uncertainties and added factors include, but are not bound to, whether or not iHeartCommunications will able the Barter Offers and Consent Solicitations, and if it does, the timing of the Barter Offers and Consent Solicitations. Many of the factors that will actuate the aftereffect of the accountable amount of this columnist absolution are above iHeartCommunications’ adeptness to ascendancy or predict. iHeartCommunications undertakes no obligation to alter or amend any advanced statements, or to accomplish any added advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.
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