Wed 08/23/2023 12:51 PM
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Audacy Inc. is preparing for a potential chapter 11 filing to implement a debt restructuring, according to sources.

The radio broadcaster presented to restricted lenders two proposals, including amending and extending the first lien debt and equitizing the second lien, or equitizing both tranches, the sources said. A restructuring may include debt equitization and take-back paper, Reorg reported earlier.

Plans may change and the company may restructure its balance sheet on an...
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