Clear Channel Outdoor to launch $2 billion term loan B on Thursday

By Sara Rosenberg

New York, July 31 – Clear Channel Outdoor Holdings Inc. is scheduled to hold a lenders’ presentation at 2 p.m. ET on Thursday to launch a $2 billion first-lien term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used to refinance existing debt and pay related fees and expenses.

Clear Channel Outdoor is a New York-based outdoor advertising company.

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