Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 42

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 42
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 million and $4.6 million, respectively. For discontinued operations, accrued but unpaid capital expenditures were $1.3 million and $6.9 million, respectively.

(3)Excludes asset acquisitions.

During the six months ended June 30, 2024, we acquired out-of-home advertising assets, primarily permits and digital billboard structures, in our America segment for cash consideration of $8.8 million. No asset acquisitions were made during the six months ended June 30, 2025.

Debt Activity, Service Obligations and Covenants

Debt Activity

In March 2024, we issued $865.0 million aggregate principal amount of 7.875% Senior Secured Notes and used a portion of the proceeds to prepay $835.0 million of borrowings outstanding under the Term Loan Facility. At the same time, we amended the Senior Secured Credit Agreement to refinance the remaining $425.0 million balance of the Term Loan Facility and extend its maturity date, subject to certain conditions. The refinanced term loans were issued at a 1% discount, and proceeds, along with cash on hand, were used to repay the original term loans and $14.9 million of accrued interest. Related transaction fees totaled $15.4 million, including $14.6 million paid during the six months ended June 30, 2024.

Also in March 2024, CCIBV entered into a $375.0 million CCIBV Term Loan Facility, issued at a 1% discount. Proceeds and cash on hand were used to redeem the $375.0 million CCIBV Senior Secured Notes and pay $11.8 million of accrued interest. Related transaction fees totaled $5.8 million, including $4.2 million paid during the six months ended June 30, 2024, and $0.4 million paid during the six months ended June 30, 2025.

On March 31, 2025, we used a portion of the net proceeds from the sale of our Europe-North segment businesses to fully prepay the principal amount of the CCIBV Term Loan Facility, along with $11.9 million of accrued interest. Upon repayment, CCIBV and its guarantors, and all collateral granted as security under the credit agreement, were released, and the credit agreement was terminated.

In the second quarter of 2025, we repurchased $