CC Extends Early Tender Date For Note Buyback
August 14, 2009 at 6:49 AM (PT)
CLEAR CHANNEL subsidiary CC FINCO, LLC is extending the early tender date for its cash tender offer for up to $200,000,000 aggregate purchase price of CLEAR CHANNEL's outstanding 6.25% Senior Notes due 2011, 4.40% Senior Notes due 2011, 5.00% Senior Notes due 2012, 5.75% Senior Notes due 2013, 5.50% Senior Notes due 2014, and 10.75% Senior Cash Pay Notes due 2016.
The new early tender expiration is at midnight ET AUGUST 27th, concurrent with the scheduled expiration of the tender offer; anyone tendering their notes by that time will receive the early tender premium along with the total consideration. However, the ability of holders to withdraw tendered Notes expired on the original early tender expiration date, THURSDAY (8/13).
CC FINCO is also increasing the maximum payment sublimit, which limits the aggregate amount of funds that may be used to purchase 5.50% Notes and 10.75% Notes, from $50 million to $65 million.