iHeartMedia (IHRT) shares rose nearly 13% in recent Monday trading after the company said it has completed several debt exchange transactions, reducing its total debt by over $440 million and extending the majority of its debt maturities by three years.
The company said it expects consolidated annual net cash interest payments to remain stable following the exchanges.
The transactions strengthen iHeartMedia's capital structure and provide increased financial flexibility to support its strategic goals and business initiatives, the company said.
Price: 2.12, Change: +0.24, Percent Change: +12.50
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