CC Outdoor Note Sale Aimed At Helping Pay Back Debt To CC Parent
December 10, 2009 at 4:59 PM (PT)
CLEAR CHANNEL OUTDOOR HOLDINGS, INC.'s indirect wholly-owned subsidiary CLEAR CHANNEL WORLDWIDE HOLDINGS, INC. is launching an offering of $750 million worth of senior notes. The notes will be guaranteed by CLEAR CHANNEL OUTDOOR HOLDINGS, CLEAR CHANNEL OUTDOOR, INC., and other existing and future domestic subsidiaries of CLEAR CHANNEL OUTDOOR HOLDINGS.
The proceeds will be used by CCOI to repay about $730 million of indebtedness owed to CLEAR CHANNEL COMMUNICATIONS.