Clear Channel Outdoor Holdings, Inc. announced today that it has amended its Receivables-Based Credit Facility and Revolving Credit Facility with Deutsche Bank AG New York Branch. These amendments extend the maturity date on both credit facilities from August 23, 2026, to June 12, 2030. This action significantly pushes out the company's debt maturity profile.
Under the terms of the amendments, the credit commitments under the Receivables-Based Facility were increased from $175 million to $200 million. Conversely, the credit commitments under the Revolving Credit Facility were reduced from $115.8 million to $100 million. Additional information regarding these amendments has been filed in a Current Report on Form 8-K with the Securities and Exchange Commission.
This extension of credit facilities provides Clear Channel Outdoor with enhanced financial flexibility and stability. By pushing out maturities, the company reduces near-term refinancing risk and aligns its capital structure with its long-term strategic focus on its U.S. America and Airports segments.
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