Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2015

NOTE 5 – LONG-TERM DEBT
Long-term debt at December 31, 2015 and 2014 consisted of the following:

(In thousands)	December 31,		December 31,
	2015		2014
Senior Secured Credit Facilities		6,300,000		7,231,222
Receivables Based Credit Facility Due 2017		230,000		-
Priority Guarantee Notes		6,274,815		5,324,815
Subsidiary Revolving Credit Facility Due 2018		-		-
Other Secured Subsidiary Debt		25,228		19,257
Total Consolidated Secured Debt		12,830,043		12,575,294

14.0% Senior Notes Due 2021		1,695,097		1,661,697
iHeartCommunications Legacy Notes		667,900		667,900
10.0% Senior Notes Due 2018		730,000		730,000
Subsidiary Senior Notes		5,150,000		4,925,000
Other Subsidiary Debt		165		1,024
Purchase accounting adjustments and original issue discount		(204,611)		(234,897)
		20,868,594		20,326,018
Less: current portion		181,512		3,604
Total long-term debt	$	20,687,082	$	20,322,414

Senior Secured Credit Facilities

As of December 31, 2015 and 2014, iHeartCommunications had senior secured credit facilities consisting of:

(In thousands)			December 31,		December 31,
		Maturity Date	2015		2014
Term Loan B		1/29/2016	$	-		916,061
Term Loan C		1/29/2016		-		15,161
Term Loan D		1/30/2019		5,000,000		5,000,000
Term Loan E		7/30/2019		1,300,000		1,300,000
	Total Senior Secured Credit Facilities		$	6,300,000	$	7,231,222

Priority Guarantee Notes

As of December 31, 2015 and 2014, iHeartCommunications had outstanding Priority Guarantee Notes consisting of:

(In thousands)					December 31,		December 31,
		Maturity Date	Interest Rate	Interest Payment Terms	2015		2014
9.0% Priority Guarantee Notes due 2019		12/15/2019	9.0%	Payable semi-annually in arrears on June 15 and December 15 of each year	$	1,999,815		1,999,815
9.0% Priority Guarantee Notes due 2021		3/1/2021	9.0%	Payable semi-annually in arrears on March 1 and September 1 of each year		1,750,000		1,750,000
11.25% Priority Guarantee Notes due 2021		3/1/2021	11.25%	Payable semi-annually on March 1 and September 1 of each year		575,000		575,000
9.0% Priority Guarantee Notes due 2022		9/15/2022	9.0%	Payable semi-annually in arrears on March 15 and September 15 of each year		1,000,000		1,000,000
10.625% Priority Guarantee Notes due 2023		3/15/2023	10.625%	Payable semi-annually in arrears on March 15 and September 15 of each year		950,000		-
	Total Priority Guarantee Notes				$	6,274,815		5,324,815

iHeartCommunications Legacy Notes

As of December 31, 2015 and 2014, iHeartCommunications had outstanding senior notes (net of $57.1 million aggregate principal amount held by a subsidiary of iHeartCommunications) consisting of:
(In thousands)		December 31,		December 31,
		2015		2014
5.5% Senior Notes Due 2016			192,900		192,900
6.875% Senior Notes Due 2018			175,000		175,000
7.25% Senior Notes Due 2027			300,000		300,000
	Total Legacy Notes	$	667,900		667,900

Subsidiary Senior Notes

As of December 31, 2015 and 2014, the Company's subsidiaries, Clear Channel Worldwide Holdings, Inc. ("CCWH") and Clear Channel International B.V. had outstanding notes consisting of:

(In thousands)					December 31,		December 31,
		Maturity Date	Interest Rate	Interest Payment Terms	2015		2014
CCWH Senior Notes:
6.5% Series A Senior Notes Due 2022		11/15/2022	6.5%	Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year	$	735,750		735,750
6.5% Series B Senior Notes Due 2022		11/15/2022	6.5%	Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year		1,989,250		1,989,250
CCWH Senior Subordinated Notes:
7.625% Series A Senior Notes Due 2020		3/15/2020	7.625%	Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year		275,000		275,000
7.625% Series B Senior Notes Due 2020		3/15/2020	7.625%	Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year		1,925,000		1,925,000
	Total CCWH Notes				$	4,925,000		4,925,000
Clear Channel International B.V. Senior Notes:
8.75% Senior NotesDue 2020		12/15/2020	8.75%	Payable semi-annually in arrears on June 15 and December 15 of each year	$	225,000		-
	Total Subsidiary Senior Notes				$	5,150,000		4,925,000

Schedule of Maturities of Long-Term Debt

Future Maturities of Long-term Debt

Future maturities of long-term debt at December 31, 2015 are as follows:

(in thousands)
2016	$	197,332
2017		238,394
2018		914,244
2019		8,300,278
2020		2,425,502
Thereafter		8,997,455
Total ⁽¹⁾	$	21,073,205

⁽¹⁾ Excludes purchase accounting adjustments and original issue discount of $204.6 million, which is amortized through interest expense over the life of the underlying debt obligations.