iHeartMedia 2002 Annual Report Download - page 106

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NOTE O –SUBSEQUENT EVENTS
On January 6, 2003, the Company completed a debt offering of $300.0 million 4.625% notes due January 15, 2008 and $500.0 million 5.75%
notes due January 15, 2013. Interest is payable on January 15 and July 15 on both series of notes. The aggregate net proceeds of approximately
$791.2 million were used to repay borrowings outstanding under the Company’s bank credit facilities and to finance the redemption of AMFM
Operating, Inc.’s outstanding 8.125% senior subordinated notes due December 15, 2007 and 8.75% senior subordinated notes due June 15,
2007. The Company called all of the outstanding 8.125% senior subordinated notes due 2007 for $379.2 million plus accrued interest on
February 10, 2003 and all of the outstanding 8.75% senior subordinated notes due 2007 for $193.4 million plus accrued interest on
February 18, 2003. These transactions resulted in a gain of approximately $1.7 million.
ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Not Applicable
97