secwatch.observer — SEC 8-K summary
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Issuer:     Clear Channel Outdoor Holdings, Inc. (CCO)
CIK:        0001334978
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001193125-24-070153
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clear Channel Outdoor issues $865M 7.875% senior secured notes due 2030, extends term loan maturity
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- Issued $865M aggregate principal of 7.875% Senior Secured Notes due April 1, 2030; interest payable semi-annually starting Oct 1, 2024.
- Credit agreement amendment extends Term Loan Facility maturity to August 23, 2028 (subject to earlier maturity if certain notes outstanding).
- Applicable rate on term loans increased by 50 bps; 1% prepayment penalty for repricing events within six months.
- Net proceeds used to prepay $835M of existing Term B Loans and pay fees; $425M of new 2024 Refinancing Term Loans established.
- Notes are senior secured, rank pari passu with existing senior secured debt, and guaranteed by subsidiaries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1334978/000119312524070153/0001193125-24-070153-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1334978/000119312524070153/d777525d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-070153

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