Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 54

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 54
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 Activity

In 2025, we used net proceeds from business sales and cash on hand to reduce our outstanding debt by approximately $605 million, improving our capital structure. These actions included: 

•On March 31, 2025, we fully prepaid the $375.0 million CCIBV Term Loan Facility, along with accrued interest.

•In the second quarter of 2025, we repurchased $229.7 million of our 7.750% and 7.500% Senior Notes for a total cash payment of $203.4 million, including accrued interest and related fees.

In 2025, we also took actions to extend our debt maturity profile, enhancing liquidity. These included:

•On June 12, 2025, we amended our Receivables-Based Credit Agreement and Senior Secured Credit Agreement to, among other things, extend the maturity dates of the related credit facilities to June 2030 and adjust the respective revolving credit commitments.

•On August 4, 2025, we refinanced $2.0 billion of our existing senior secured notes, including our 5.125% Senior Secured Notes due 2027 and 9.000% Senior Secured Notes due 2028, with the issuance of $1.15 billion of 7.125% Senior Secured Notes due 2031 and $0.9 billion of 7.500% Senior Secured Notes due 2033.

For additional details, refer to Note 5 to our Consolidated Financial Statements in Item 1 of Part I of this Quarterly Report on Form 10-Q.

Macroeconomic Trends, Uncertainties and Seasonality

Inflation has continued to moderate from previous levels but remains above the U.S. Federal Reserve’s target. Interest rates also declined modestly following the Federal Reserve’s 25-basis-point reductions to the federal funds rate in each of September and October 2025; however, borrowing costs remain elevated relative to recent historical averages. Inflation and higher interest rates have created cost pressures in certain areas of our operations in the past and may further influence operating expenses and borrowing costs in the future.

Additionally, global trade policy remains highly uncertain. Since the beginning of 2025, the U.S. has expanded its use of tariffs, including higher tariffs on goods from China and the European Union, as well as on imports of steel, aluminum and certain technology products. The global trade environment continues to evolve, with several major