Company: CCO
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001334978-25-000012
Chunk: 32

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 32
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 as the majority of our contracts with customers have terms of one year or less. For contracts with customers that have an original expected duration greater than one year, the future amount to be invoiced to the customer directly corresponds to the value that will be received by the customer under the contract.

14

Table of ContentsCLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIESCONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

NOTE 5 – LONG-TERM DEBT

Long-term debt outstanding as of March 31, 2025 and December 31, 2024 consisted of the following:(In thousands)MaturityMarch 31,2025December 31,2024Receivables-Based Credit FacilityAugust 2026$— $— Revolving Credit FacilityAugust 2026— — Term Loan FacilityAugust 2028425,000 425,000 Clear Channel Outdoor Holdings 5.125% Senior Secured NotesAugust 20271,250,000 1,250,000 Clear Channel Outdoor Holdings 9.000% Senior Secured NotesSeptember 2028750,000 750,000 Clear Channel Outdoor Holdings 7.875% Senior Secured NotesApril 2030865,000 865,000 Clear Channel Outdoor Holdings 7.750% Senior NotesApril 2028995,000 995,000 Clear Channel Outdoor Holdings 7.500% Senior NotesJune 20291,040,000 1,040,000 Clear Channel International B.V. Term Loan Facility(1)— 375,000 Finance leases3,857 3,974 Original issue discount(4,527)(7,313)Long-term debt fees(30,996)(36,356)Total debt5,293,334 5,660,305 Less: Current portion303 348 Total long-term debt$5,293,031 $5,659,957 (1)On March 31, 2025, the Company used a portion of the net proceeds from the sale of its Europe-North segment businesses (as described in Note 2) to fully prepay the $375.0 million aggregate principal amount of CCIBV term loans and $11.9 million of accrued interest. As a result, the Company recognized a loss on debt extinguishment of $5.4 million, which is reported in discontinued operations as described