Clear Channel Outdoor Holdings, Inc. — fact timeline

Clear Channel Outdoor Holdings, Inc. amended revolving credit of $150,000,000 with Deutsche Bank AG New York Branch and other lenders at Following the Credit Agreement Amendment, the interest rate margin for borrowing maturing August 23, 2026.

“Pursuant to the Credit Agreement Amendment, among other things: (i) the maturity date of the Revolving Credit Facility was extended to August 23, 2026; (ii) the revolving credit commitments were reduced from $175,000,000 to $150,000,000, with the full $150,000,000 of revolving credit commitments available through August 23, 2024 and $115,800,000 of such revolving credit commitments extending and available through August 23, 2026; (iii) the $125,000,000 letter of credit sub-facility remains available through August 23, 2024, with $96,500,000 of such commitments extending and available through August 23, 2026; and (iv) the benchmark interest rate provisions were amended to replace LIBOR with a term rate based on Term SOFR for revolving loans extended in dollars, a term rate based on CDOR for revolving loans extended in Canadian dollars, a term rate based on EURIBOR for revolving loans extended in euros, and Adjusted Daily Simple RFR based on SONIA for revolving loans extended in pounds s”

Clear Channel Outdoor Holdings, Inc. amended revolving credit of $175,000,000 with Deutsche Bank AG New York Branch and other lenders at Following the Receivables-Based Credit Agreement Amendment, the interest rate ma maturing August 23, 2026.

“Pursuant to the Receivables-Based Credit Agreement Amendment, among other things: (i) the maturity date of the Receivables-Based Credit Facility was extended to August 23, 2026; (ii) the revolving credit commitments were increased from $125,000,000 to $175,000,000; and (iii) the benchmark interest rate provisions were amended to replace the London Interbank Offered Rate (“LIBOR”) with a term rate based on the Secured Overnight Financing Rate (“Term SOFR”) for revolving loans extended in dollars, a term rate based on the Canadian Dollar Offered Rate (“CDOR”) for revolving loans extended in Canadian dollars, a term rate based on the Euro InterBank Offered Rate (“EURIBOR”) for revolving loans extended in euros, and a daily rate (“Adjusted Daily Simple RFR”) based on the Sterling Overnight Index Average (“SONIA”), for revolving loans extended in pounds sterling as the reference rates for purposes of calculating interest related to the Receivables-Based Credit Facility. Following the Receiv”

Clear Channel Outdoor Holdings, Inc. amended Credit Agreement Amendment with Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the other lenders party thereto valued at reduced from $175,000,000 to $150,000,000 (effective 2023-06-12).

“Concurrently with the entry into the Receivables-Based Credit Agreement Amendment, on June 12, 2023, the Company entered into an amendment (the “Credit Agreement Amendment” and together with the Receivables-Based Credit Agreement Amendment, the “Amendments”) to the Company’s credit agreement, dated as of August 23, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement”), with Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the other lenders party thereto.”

Clear Channel Outdoor Holdings, Inc. amended Receivables-Based Credit Agreement Amendment with Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the other lenders party thereto valued at increased from $125,000,000 to $175,000,000 (effective 2023-06-12).

“On June 12, 2023, Clear Channel Outdoor Holdings, Inc. (the “Company”) entered into an amendment (the “Receivables-Based Credit Agreement Amendment”) to the Company’s receivables-based credit agreement, dated as of August 23, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified, the “Receivables-Based Credit Agreement”) with Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and the other lenders party thereto.”

Clear Channel Outdoor Holdings, Inc. shareholders approved Ratification of the selection of Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2023 at the 2023-05-03 meeting.

“The selection of Ernst & Young LLP as the independent registered public accounting firm of the Company for the year ending December 31, 2023 was ratified.”

Clear Channel Outdoor Holdings, Inc. shareholders approved Approval of the advisory (non-binding) vote on the frequency of future say-on-pay votes at the 2023-05-03 meeting.

“With respect to the advisory vote on the frequency of future say-on-pay votes, votes were cast as set forth below.”

Clear Channel Outdoor Holdings, Inc. shareholders approved Approval of the advisory (non-binding) resolution on executive compensation at the 2023-05-03 meeting.

“The advisory resolution on executive compensation was approved.”

Clear Channel Outdoor Holdings, Inc. shareholders approved Election of Directors at the 2023-05-03 meeting.

“The Company’s stockholders elected the following nominees for director to serve as directors for a one-year term expiring at the Annual Meeting of Stockholders to be held in 2024 or until her or his successor shall have been elected and qualified.”

Clear Channel Outdoor Holdings, Inc. reported preliminary financial results for the year ended December 31, 2022.

“This presentation provides certain segment financial information reflecting quarterly financial results for the year ended December 31, 2022 and annual financial results for the year ended December 31, 2019 based on the Company’s new segment reporting”

C. William Eccleshare resigned as Executive Vice Chairman at Clear Channel Outdoor Holdings, Inc..

“on December 31, 2022, C. William Eccleshare resigned as Executive Vice Chairman and member of the Board of Directors (the “Board”) of Clear Channel Outdoor Holdings, Inc., effective as of the same date.”

Clear Channel Outdoor Holdings, Inc. reported quarter ended September 30, 2022 results: revenue $ 602.9, net income (38.8). Guidance reaffirmed.

“financial highlights excluding movements in foreign exchange rates (“FX”) 1 : (In millions) Three Months Ended September 30, 2022 % Change Revenue: Consolidated Revenue $ 602.9 1.1 % Excluding movements in FX 1 642.9 7.8 % Americas Revenue 346.5 8.6 % Europe Revenue 239.2 (8.9) % Excluding movements in FX 1 278.7 6.1 % Net Loss: Consolidated Net Loss”

Scott Wells was appointed as member of the Board at Clear Channel Outdoor Holdings, Inc..

“The Company also announced that Scott Wells, currently the Executive Vice President, Chief Executive Officer of the Americas Division of the Company, age 53, will assume the role of President and Chief Executive Officer of the Company as of January 1, 2022, and will be appointed as a member of the Board.”

Scott Wells was appointed as President and Chief Executive Officer at Clear Channel Outdoor Holdings, Inc..

“The Company also announced that Scott Wells, currently the Executive Vice President, Chief Executive Officer of the Americas Division of the Company, age 53, will assume the role of President and Chief Executive Officer of the Company as of January 1, 2022, and will be appointed as a member of the Board.”

C. William Eccleshare changed role as Executive Vice Chairman at Clear Channel Outdoor Holdings, Inc..

“C. William Eccleshare, President and Chief Executive Officer and member of the Board of Directors of the Company (the “Board”), plans to step down from the position of President and Chief Executive Office effective as of December 31, 2021, and is expected to assume the role of Executive Vice Chairman and remain a member of the Board until December 31, 2022.”