INSIDE …
- A game of chicken where Bain says to bondholders either give in to our demands for more favorable debt terms or we will wipe you out.
- But will they really do it?
- Does iHeart have a way to back down from their threat to bondholders before they trigger bankruptcy?
- What if bondholders call iHeart’s bluff, what happens then since it would probably be within weeks?
- If you’re an employee of iHeart do you have reasons to be concerned or is this all just theater?
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