An issue of iHeartMedia Inc (NASDAQ:IHRT) bonds fell 2.6% against their face value during trading on Wednesday. The debt issue has a 10.625% coupon and will mature on March 15, 2023. The debt is now trading at $68.63. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

iHeartMedia Inc (NASDAQ IHRT) traded down $0.08 during trading hours on Wednesday, hitting $1.20. The company’s stock had a trading volume of 20,844 shares, compared to its average volume of 3,057. iHeartMedia Inc has a 12-month low of $0.84 and a 12-month high of $4.01.

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iHeartMedia Company Profile

iHeartMedia, Inc is a diversified media and entertainment company. The Company specializes in broadcast radio, digital, out-of-home, mobile, live events and on-demand information services for national audiences and local communities while providing a range of opportunities for advertisers. It operates through three segments: iHeartMedia (iHM), Americas outdoor advertising (Americas outdoor) and International outdoor advertising (International outdoor).

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