An Old Debt for New Debt Offer Surfaces For iHeartMedia
The company helmed by CEO Bob Pittman and COO/CFO Rich Bressler seeks more time to repay its lenders by proposing to push out its repayment dates by at least three years. In order to accomplish this, two lender proposals have been drafted. Each would see a significant hike in interest rates in order to gain more time for repayment.