Clear Channel Outdoor Holdings (CCO) has issued an announcement.
Clear Channel Outdoor Holdings, Inc. is set to refinance $375 million of senior secured notes, aiming to push the maturity date from 2025 to 2027, potentially at a higher interest rate due to market conditions. Additionally, the company has priced $865 million of new senior secured notes at 7.875% due in 2030, with the sale expected to finalize on March 18, 2024. This move is part of a wider refinancing strategy designed to extend the maturity of other existing debts. The company cautions that these forward-looking statements are subject to market risks and uncertainties, and the proposed transactions may not be completed as planned.
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