Credit Derivatives Determinations Committee » iHeart Communications, Inc.

On December 21, 2016, ISDA’s Credit Derivatives Determinations Committee for the Americas resolved that a Failure to Pay Credit Event occurred in respect of iHeart Communications, Inc. on December 20, 2016. Further documentation relating to this Credit Event and LCDS/LCDX transactions will be added as it becomes available.

Please note: The Event Determination Date is: (1) December 20, 2016, for transactions with a Scheduled Termination Date of December 20, 2016 and (2) December 21, 2016, for transactions with a Scheduled Termination Date after December 20, 2016.


Auction Timeline:	North American LCDS Timeline

January 19, 2017:	Eligible Participating Dealers have voted to amend the LCDS Physical Settlement Rider to be referenced in the Bullet LCDS Auction Settlement Terms for first lien Bullet LCDS contracts on iHeart Communications, Inc., such that Representative Auction-Settled Transactions would be settled on LSTA par/near par documentation, consistent with the current documentation practice for transactions in iHeart Communications loans. The amendments to the LCDS Physical Settlement Rider are expected to be published contemporaneously with the publication of the iHeart Communications Bullet LCDS Auction Settlement Terms. The Auction will be held on February 2, 2017.

Final Auction Terms:	2017 iHeartCommunications, Inc. LCDS Auction Settlement Terms with amended Physical Settlement Rider Blackline AST against Caesars Entertainment Operating Company, Inc. AST Blackline Physical Settlement Rider against previous published version

List of Participating Bidders	List of Participating Bidders

Advisory:	2017 iHeartCommunications, Inc. First Lien Loans Bullet LCDS Auction Settlement Terms Settlement Advisory