Clear Channel Outdoor Holdings Inc. (CCO) announced the closing of the offering of $500 million aggregate principal amount of Series A Senior Notes due 2017 and $2 billion aggregate principal amount of Series B Senior Notes due 2017 by its subsidiary, Clear Channel Worldwide Holdings Inc.
Clear Channel Worldwide will loan the proceeds from the issuance and sale of the Notes to Clear Channel Outdoor Holdings, which in turn will use a portion of the net proceeds to repay approximately $2.0 billion aggregate principal amount of indebtedness owed to Clear Channel Communications.
For comments and feedback: editorial@rttnews.com