Clear Channel to redeem $940 million outstanding 9¼% notes due 2024

By Taylor Fox

New York, Jan. 28 – Clear Channel Worldwide Holdings, Inc., a subsidiary of Clear Channel Outdoor Holdings, Inc., plans to redeem $940 million of its outstanding 9¼% senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

The redemption is conditioned on the successful completion of one or more debt refinancing transactions, the receipt of proceeds from those transactions in an amount sufficient to pay the redemption prices and the company having not repurchased after the date of the conditional notice of redemption an aggregate principal amount of notes equal to or greater than $940 million.

U.S. Bank NA is the trustee.

Clear Channel Outdoor is a New York-based outdoor advertising company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.