Clear Channel Announces Expiration Offer For Senior Notes
September 10, 2008 at 6:15 AM (PT)
CLEAR CHANNEL COMMUNICATIONS has announced the expiration and final results of its previously announced tender offer to purchase any and all of its outstanding 7.65% Senior Notes due 2010. The tender offer and consent solicitation was made pursuant to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement for the Notes dated AUGUST 7th, 2008, and the related Letter of Transmittal and Consent.
The tender offer and consent payment deadline expired at 8a ET on SEPTEMBER 9th, 2008. The aggregate principal amount of the Notes validly tendered (and not validly withdrawn) was $363.9 million, representing approximately 48.5% of outstanding Notes.
CLEAR CHANNEL has accepted for purchase all of the Notes validly tendered (and not validly withdrawn) in the tender offer.