February 26, 2018 / 5:18 PM / 8 months ago

BRIEF-iHeartCommunications Creditors Says Receive Restructuring Term Sheet From Liberty Media Corp

Feb 26 (Reuters) - Certain iHeartCommunications, Inc. Lenders And Noteholders:

* IHEARTCOMMUNICATIONS CREDITORS RECEIVE RESTRUCTURING TERM SHEET FROM LIBERTY MEDIA CORPORATION

* CERTAIN IHEARTCOMMUNICATIONS, INC. LENDERS AND NOTEHOLDERS - LIBERTY IS WILLING TO FINANCE WORKING CAPITAL NEEDS IN CHAPTER 11 THROUGH A DIP FACILITY

* CERTAIN IHEARTCOMMUNICATIONS LENDERS,NOTEHOLDERS -ON FEB 24, SOME LENDERS,NOTEHOLDERS RECEIVED TERM SHEET FOR RESTRUCTURING OF CO FROM LIBERTY MEDIA CORP

* CERTAIN IHEARTCOMMUNICATIONS, INC. LENDERS AND NOTEHOLDERS - PROPOSAL INTENDED TO WORK WITH EXISTING RESTRUCTURING SUPPORT AGREEMENT DISCUSSIONS

* IHEARTCOMMUNICATIONS CREDITORS - ON ACCOUNT OF $1.159 BILLION NEW CASH INVESTMENT UNDER PLAN, LIBERTY & SIRIUS, WILL RECEIVE 40 PERCENT OF NEW COMMON SHARES​

* IHEARTCOMMUNICATIONS CREDITORS-DEBTORS TO USE CASH COLLATERAL/GET POSTPETITION FINANCING UNDER TERMS AGREED WITH SECURED CREDITORS,ACCEPTABLE TO LIBERTY Source text for Eikon: Further company coverage:

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