secwatch.observer — SEC 8-K summary
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Issuer:     Clear Channel Outdoor Holdings, Inc. (CCO)
CIK:        0001334978
Form:       8-K
Filed at:   2023-06-12T23:59:59+00:00
Accession:  0001193125-23-165286
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clear Channel Outdoor extends credit facility maturities to 2026, increases RBC commitments to $175M
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- RBC facility commitments increased from $125M to $175M; maturity extended to Aug 23, 2026.
- RCF commitments reduced from $175M to $150M, with $115.8M extending to Aug 23, 2026.
- LIBOR replaced with SOFR, CDOR, EURIBOR, and SONIA as reference rates for interest calculations.
- RBC interest rate margin set at 1.50% for SOFR loans, step-ups based on excess availability; RCF margins at 3.25%-3.50%.
- Commitment fees revised: RBC 0.25% (with step-ups), RCF fee structure unchanged but aligns with ratings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1334978/000119312523165286/0001193125-23-165286-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1334978/000119312523165286/d466357d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-165286

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