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Prospect News home > News index > List of issuers Tenders > Headlines for 2014 > News item
Published on 7/21/2014 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Clear Channel to redeem senior notes due 2016 via proceeds of add-on

By Toni Weeks

San Luis Obispo, Calif., July 21 – Clear Channel Communications, Inc. said it will use the proceeds from an add-on issue of senior notes due 2021 to fully redeem its outstanding $94.3 million principal amount of 10¾% senior cash pay notes due 2016 and $127.9 million principal amount of 11% senior toggle notes due 2016.

The redemption as well as the new notes issuance are expected to be completed on Aug. 22, according to an 8-K filing with the Securities and Exchange Commission.

Clear Channel is a media and entertainment company based in San Antonio.


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