CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (NYSE:CCO) Files An 8-K Regulation FD Disclosure
Item 7.01
On August 5, 2019, Clear Channel Worldwide Holdings, Inc. (CCWH) and Clear Channel International B.V. (CCIBV), subsidiaries of Clear Channel Outdoor Holdings, Inc. (the Company), each delivered a conditional notice of redemption to the holders of, with respect to CCWH, its 6.50% Series A and Series B Senior Notes due 2022 (the CCWH Notes), and with respect to CCIBV, its 8.75% Senior Notes due 2020 (the CCIBV Notes), to redeem in full the entire outstanding aggregate principal amount of the CCWH Notes and the CCIBV Notes. The redemptions are conditioned on the successful completion of one or more debt refinancing transactions and the receipt of net proceeds from those transactions in an amount sufficient to pay the redemption prices. The conditional notices of redemption may be rescinded or amended if necessary.
This Current Report on Form 8-K does not constitute a notice of redemption and is qualified in its entirety by reference to the conditional notices of redemption delivered to the indentures that govern the CCWH Notes and the CCIBV Notes.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including the exhibits hereto, shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this Current Report on Form 8-K constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. Any statements that refer to or implicate future events, including with respect to any future debt refinancing transactions and the ultimate satisfaction or non-satisfaction of the conditions to the redemptions, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this Current Report on Form 8-K may not occur. You are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.