IHeart Bonds Slide on Report of SiriusXM Talks Stalling

IHeartMedia bonds were the leading US high-yield decliners Friday morning, alongside a slump in the company’s shares, after DealBook reported that early-stage talks over a potential sale to SiriusXM are on pause.

• Its 10.875% note due 2030 slumped 7.9 cents on the dollar to 84.25 cents as of 10am ET in New York, according to Trace data
• Firm’s 9.125% bond due 2029 dropped 2.63 cents to 96.75 cents
• READ: IHeartCommunications HY Bond Trading Jumps; Aug. 2030 Bond

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