Clear Channel Outdoor Enters Material Definitive Agreement
Ticker: CCO · Form: 8-K · Filed: Mar 18, 2024 · CIK: 1334978
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
CCO enters new material agreement, likely a big financial move.
AI Summary
Clear Channel Outdoor Holdings, Inc. entered into a material definitive agreement on March 18, 2024, related to a financial obligation. The company, headquartered in San Antonio, Texas, filed this 8-K report to disclose this event. Specific details of the agreement and the financial obligation are not fully elaborated in the provided text, but it signifies a significant financial move for the company.
Why It Matters
This filing indicates a significant financial commitment or agreement by Clear Channel Outdoor, which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a financial obligation, which inherently carries risk until more details are disclosed.
Key Numbers
- 001-32663 — SEC File Number (Identifies the company's filing history with the SEC.)
- 88-0318078 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Clear Channel Outdoor Holdings, Inc. (company) — Registrant
- March 18, 2024 (date) — Date of Report
- San Antonio, Texas (location) — Principal Executive Offices
- 4830 North Loop 1604W, Suite 111 (address) — Principal Executive Offices Address
FAQ
What is the nature of the material definitive agreement entered into by Clear Channel Outdoor Holdings, Inc.?
The filing states that the company entered into a material definitive agreement and created a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this excerpt.
When was this material definitive agreement reported?
The report date, and the earliest event reported, is March 18, 2024.
Where are Clear Channel Outdoor Holdings, Inc.'s principal executive offices located?
The principal executive offices are located at 4830 North Loop 1604W, Suite 111, San Antonio, Texas 78249.
What is the SEC file number for Clear Channel Outdoor Holdings, Inc.?
The SEC file number for Clear Channel Outdoor Holdings, Inc. is 001-32663.
What type of report is this filing?
This filing is a Current Report on Form 8-K.
Filing Stats: 1,946 words · 8 min read · ~6 pages · Grade level 13.2 · Accepted 2024-03-18 16:16:03
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share CCO New York St
- $865.0 million — . (the "Company") completed the sale of $865.0 million in aggregate principal amount of 7.875%
- $250.0 million — aggregate principal amount in excess of $250.0 million that mature prior to November 21, 2028,
- $199.0 million — aggregate principal amount in excess of $199.0 million that mature prior to November 21, 2028,
Filing Documents
- d777525d8k.htm (8-K) — 37KB
- d777525dex41.htm (EX-4.1) — 968KB
- d777525dex101.htm (EX-10.1) — 1420KB
- 0001193125-24-070153.txt ( ) — 3103KB
- cco-20240318.xsd (EX-101.SCH) — 3KB
- cco-20240318_lab.xml (EX-101.LAB) — 18KB
- cco-20240318_pre.xml (EX-101.PRE) — 11KB
- d777525d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 4.1 Indenture, dated as of March 18, 2024, by and among Clear Channel Outdoor Holdings, Inc., the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee and as collateral agent, governing the 7.875% Senior Secured Notes due 2030. 4.2 Form of 7.875% Senior Secured Notes due 2030 (incorporated by reference to Exhibit A to Exhibit 4.1 filed herewith). 10.1 Fifth Amendment to Credit Agreement, dated as of March 18, 2024, among Clear Channel Outdoor Holdings, Inc., the other loan parties thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as Administrative Agent (including Annex A, which is a conformed copy of the Credit Agreement). 104 Cover Page Interactive Data File (formatted as inline XBRL).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CLEAR CHANNEL OUTDOOR HOLDINGS, INC. Date: March 18, 2024 By: /s/ Lynn A. Feldman Lynn A. Feldman Executive Vice President, Chief Legal Officer and Corporate Secretary