CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (NYSE:CCO) Files An 8-K Regulation FD Disclosure
Item7.01. Regulation FD Disclosure.
On March15, 2017, iHeartCommunications, Inc.
(iHeartCommunications), an indirect parent of Clear Channel
Outdoor Holdings, Inc., commenced exchange offers (the Notes
Exchange Offers) to exchange certain series of
iHeartCommunications outstanding debt securities (the Existing
Notes) for new securities of iHeartCommunications, iHeartMedia,
Inc. and CC Outdoor Holdings, Inc. and concurrent consent
solicitations with respect to the terms of the Existing Notes. On
March15, 2017, iHeartCommunications also commenced offers (the
Term Loan Offers) to amend or exchange its outstanding Term LoanD
and Term LoanE borrowings under its senior secured credit
facility for new term loans of iHeartCommunications and/or new
securities of iHeartMedia, Inc., CC Outdoor Holdings, Inc. and
Broader Media, LLC. The new securities being offered to holders
of the iHeartCommunications existing debt in the Notes Exchange
Offers and the Term Loan Offers are referred to as the New
Securities.
The New Securities will not be registered under the Securities
Act and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. This Current Report on Form8-K is neither an offer
to sell or exchange nor the solicitation of an offer to buy the
New Securities or any other securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offering, solicitation or sale would be unlawful.
A copy of the press release announcing the Notes Exchange Offers
is attached hereto as Exhibit99.1 and is incorporated in this
Item7.01 by reference.
A copy of the press release announcing the Term Loan Offers is
attached hereto as Exhibit99.2 and is incorporated in this
Item7.01 by reference.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following documents are filed herewith:
|
ExhibitNo. |
Description |
|
| 99.1 |
Press Release issued by iHeartCommunications, Inc., dated March15, 2017, announcing the commencement of the Notes Exchange Offers (incorporated by reference to iHeartCommunications Current Report on Form8-K filed on March15, 2017). |
|
| 99.2 |
Press Release issued by iHeartCommunications, Inc., dated March15, 2017, announcing the commencement of the Term Loan Offers (incorporated by reference to iHeartCommunications Current Report on Form8-K filed on March15, 2017). |
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About CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (NYSE:CCO)
Clear Channel Outdoor Holdings, Inc. is an outdoor advertising company. The Company owns and operates billboards, street furniture displays, transit displays and other out-of-home advertising displays, such as wallscapes and spectaculars. It operates in two segments: Americas outdoor advertising (Americas) and International outdoor advertising (International). It owns or operates more than 650,000 advertising displays. The Americas segment consists of operations primarily in the United States, Canada and Latin America. The Americas assets consist of traditional and digital billboards, street furniture and transit displays, airport displays, wallscapes and other spectaculars, which the Company owns or operates under lease management agreements. The International segment primarily includes operations in Europe, Asia and Australia. The International assets consist of street furniture and transit displays, billboards, mall displays, Smartbike programs, wallscapes and other spectaculars. CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (NYSE:CCO) Recent Trading Information
CLEAR CHANNEL OUTDOOR HOLDINGS, INC. (NYSE:CCO) closed its last trading session up +0.05 at 5.80 with 26,265 shares trading hands.
