IHeart Names New Note Exchange Deadline: July 7.

Continuing to negotiate with its creditors, iHeartMedia has extended the deadline—for a seventh time—for holders of some of its notes due in 2021 to consider its exchange offer. The deadline for the offer, which would have expired June 23, is now July 7. iHeart also pushed back to July 7 the deadline for holders of other loans.

The company says it is again extending the offers to continue discussions with noteholders about the terms of the offers and to keep the conversation going with term loan lenders around the concurrent private offers it made to those lenders.

As of June 21, just 0.6% of outstanding existing notes had been tendered, iHeart says, roughly the same amount as four weeks earlier. However, that’s down from the 1.1% totaling $86.7 million that had been tendered as of May 11.

In both cases iHeartMedia says the terms of its offers have not changed. However, on April 13 it did sweeten the offers to its term loan lenders and priority guarantee noteholders. The offer to the senior noteholders has remained the same since it was first made March 15.

The offers are part of a major reworking of the company’s capital structure to reduce debt and lower interest payments.

The proposed transactions include offers to lenders that would amend their existing loan terms and/or exchange them for new loans and securities. The company is also offering to exchange its priority guarantee notes and senior notes due in 2021 for new securities.

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