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CLEAR CHANNEL CAPITAL I, LLC FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events

July 21, 2014



Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

Clear Channel Communications, Inc. ("CCU") is a wholly owned subsidiary of Clear Channel Capital I, LLC. CCU intends to issue and sell approximately $222.2 million in aggregate principal amount of new Senior Notes due 2021 to CC Finco, LLC, an indirect wholly owned subsidiary of CCU, in a transaction exempt from registration under the Securities Act of 1933, as amended. The new Senior Notes due 2021 will be issued as additional notes under the indenture governing CCU's existing Senior Notes due 2021. On July 21, 2014, CCU issued a notice of redemption to redeem all of the outstanding $94.3 million aggregate principal amount of Senior Cash Pay Notes due 2016 and $127.9 million aggregate principal amount of Senior Toggle Notes due 2016 using proceeds of the issuance of the new Senior Notes due 2021. The closing of the issuance of the new Senior Notes due 2021 and redemption of the outstanding Senior Cash Pay Notes due 2016 and Senior Toggle Notes due 2016 are expected to occur on August 22, 2014.

Item 8.01 Other Events



The information set forth in Item 2.04 above is incorporated by reference into this Item 8.01.

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Source: Edgar Glimpses


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