Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 18

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 18
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,000 Clear Channel Outdoor Holdings 7.750% Senior Notes(3)April 2028899,311 995,000 Clear Channel Outdoor Holdings 7.500% Senior Notes(3)June 2029905,950 1,040,000 Clear Channel International B.V. Term Loan Facility(4)— 375,000 Finance leases3,763 3,974 Original issue discount(4,224)(7,313)Long-term debt fees(27,595)(36,356)Total debt5,067,205 5,660,305 Less: Current portion286 348 Total long-term debt$5,066,919 $5,659,957 (1)On June 12, 2025, the Company amended its Receivables-Based Credit Agreement to, among other things, extend the maturity date of the Receivables-Based Credit Facility from August 23, 2026 to June 12, 2030, increase the maximum revolving credit commitments from $175.0 million to $200.0 million, and revise the calculation of the borrowing base to expand the scope of eligible accounts.(2)On June 12, 2025, the Company amended its Senior Secured Credit Agreement to, among other things, extend the maturity date of the Revolving Credit Facility from August 23, 2026 to June 12, 2030 and reduce the revolving credit commitments from $115.8 million to $100.0 million.(3)In the second quarter of 2025, the Company repurchased $95.7 million aggregate principal amount of its 7.750% Senior Notes due 2028 (the “7.750% Senior Notes”) and $134.1 million aggregate principal amount of its 7.500% Senior Notes due 2029 (the “7.500% Senior Notes” and, together with the 7.750% Senior Notes, the “Senior Notes”) in open market transactions at a discount. The total cash payment was $203.4 million, including accrued interest of $4.0 million and related fees. As a result, the Company recognized a gain on extinguishment of debt of $28.8 million. The repurchased notes are held by the Company and have not been canceled.(4)On March 31, 2025, the Company used a portion of the net proceeds from the sale of its Europe-N