Clear Channel to repay term loans B and C via new notes proceeds

By Tali Rackner

Norfolk, Va., Sept. 5 – Clear Channel Communications, Inc. plans to use the proceeds from a notes offering to prepay at par $729 million of the loans outstanding under its term loan B facility and $12.1 million of the loans outstanding under its term loan C asset sale facility, according to a press release.

Proceeds will also be used to pay accrued and unpaid interest with regard to the loans and to pay fees and expenses related to the offering and the prepayment.

San Antonio-based Clear Channel is a media and entertainment company. It is a wholly owned subsidiary of Clear Channel Capital I, LLC.

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