Clear Channel looks to refinance $375 million 6 5/8% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, March 4 – Clear Channel Outdoor Holdings Inc. said it expects that it will soon begin a refinancing process for the $375 million of 6 5/8% senior secured notes due 2025 issued by Clear Channel International BV, according to a news release.

The refinancing would extend the maturity of the notes to 2027 and would be effected through a new senior secured term loan with Clear Channel International BV as borrower.

The issuer expects to deliver conditional notices to redeem all of the existing notes, but the company said there is no assurance that the transaction will occur on the expected terms or at all.

Clear Channel Outdoor is a New York-based provider of out-of-home display advertising such as digital billboards, posters, panels, wallscapes and mobile advertising services.

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