Clear Channel Outdoor (CCO) Announces $1.25B Debt Private Offering

Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) that its indirect, wholly-owned subsidiary, Clear Channel Worldwide Holdings, Inc., will offer, subject to market and customary conditions, $250,000,000 aggregate principal amount of Series A Senior Subordinated Notes due 2020 and $1,000,000,000 aggregate principal amount of Series B Senior Subordinated Notes due 2020 in a private offering that is exempt from registration under the Securities Act of 1933, as amended.

Clear Channel Worldwide intends to loan the proceeds of the Notes, net of the initial purchasers’ discount, to CCOI. CCOI will pay all other fees and expenses of the offering using cash on hand and, with the proceeds of the loans, make a special cash dividend to the Company, which will in turn make a special cash dividend (in the same aggregate amount) to all holders of its Class A common stock and Class B common stock, including Clear Channel Holdings, Inc. (“Clear Channel Holdings”) and CC Finco, LLC, a direct wholly-owned subsidiary of Clear Channel Holdings.

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