Clear Channel subsidiary repurchases of $61.9 million of notes

By Tali Rackner

Norfolk, Va., April 24 - CC Finco LLC repurchased a total of $61.9 million aggregate principal amount of its notes through open-market purchases, according to a 10-Q filing with the Securities and Exchange Commission.

The notes redeemed were comprised of $52.9 million of 5½% senior notes due 2014 and $9 million of 4.9% senior notes due 2015, for a total purchase price of $63.1 million, including accrued interest.

CC Finco is an indirect wholly owned subsidiary of Clear Channel Communications, Inc., a San Antonio-based media and entertainment company.

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