iHeartMedia 2014 Annual Report Download - page 47

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45
Sources of Capital
As of December 31, 2014 and 2013, we had the following debt outstanding, net of cash and cash equivalents:
December 31,
(In millions)
2014
2013
Senior Secured Credit Facilities:
Term Loan B Facility Due 2016
916.1
1,891.0
Term Loan C - Asset Sale Facility Due 2016
15.2
34.8
Term Loan D Facility Due 2019
5,000.0
5,000.0
Term Loan E Facility Due 2019
1,300.0
1,300.0
Receivables Based Facility Due 2017 (1)
-
247.0
9.0% Priority Guarantee Notes Due 2019
1,999.8
1,999.8
9.0% Priority Guarantee Notes Due 2021
1,750.0
1,750.0
11.25% Priority Guarantee Notes Due 2021
575.0
575.0
9.0% Priority Guarantee Notes Due 2022
1,000.0
-
Subsidiary Senior Revolving Credit Facility due 2018
-
-
Other Secured Subsidiary Debt
19.2
21.1
Total Secured Debt
12,575.3
12,818.7
10.75% Senior Cash Pay Notes Due 2016
-
94.3
11.00%/11.75% Senior Toggle Notes Due 2016
-
127.9
14.0% Senior Notes Due 2021
1,661.6
1,404.2
Legacy Notes:
5.5% Senior Notes Due 2014
-
461.5
4.9% Senior Notes Due 2015
-
250.0
5.5% Senior Notes Due 2016
192.9
250.0
6.875% Senior Notes Due 2018
175.0
175.0
7.25% Senior Notes Due 2027
300.0
300.0
10.0% Senior Notes Due 2018
730.0
-
Subsidiary Senior Notes:
6.5% Series A Senior Notes Due 2022
735.8
735.8
6.5% Series B Senior Notes Due 2022
1,989.3
1,989.3
Subsidiary Senior Subordinated Notes:
7.625% Series A Senior Notes Due 2020
275.0
275.0
7.625% Series B Senior Notes Due 2020
1,925.0
1,925.0
Other Subsidiary Debt
1.0
-
Purchase accounting adjustments and original issue discount
(234.9)
(322.4)
Total Debt
20,326.0
20,484.3
Less: Cash and cash equivalents
457.0
708.2
$
19,869.0
$
19,776.1
(1) The receivables based credit facility provides for borrowings of up to the lesser of $535.0 million (the revolving credit
commitment) or the borrowing base amount, as defined under the receivables based facility, subject to certain limitations
contained in our material financing agreements.
Our subsidiaries have from time to time repurchased certain debt obligations of ours and equity securities outstanding of
Parent and CCOH, and may in the future, as part of various financing and investment strategies, purchase additional outstanding
indebtedness of ours or our subsidiaries or outstanding equity securities of Parent or CCOH, in tender offers, open market purchases,
privately negotiated transactions or otherwise. We or our subsidiaries may also sell certain assets, securities, or properties. These
purchases or sales, if any, could have a material positive or negative impact on our liquidity available to repay outstanding debt
obligations or on our consolidated results of operations. These transactions could also require or result in amendments to the
agreements governing outstanding debt obligations or changes in our leverage or other financial ratios, which could have a material
positive or negative impact on our ability to comply with the covenants contained in our debt agreements. These transactions, if any,