iHeartCommunications, Inc. Announces Private Offers To Holders Of Its Five Series Of Priority Guarantee Notes And Its Senior Notes Due 2021 To Exchange Such Notes For New Securities In Connection With A Proposed Global Restructuring Of Its Indebtedness
San Antonio, TX, March 15, 2017 - iHeartCommunications, Inc. (鈥渋HeartCommunications鈥�), together with 茄子污污视频, Inc. (鈥溓炎游畚凼悠碘��) and CC Outdoor Holdings, Inc. (鈥淐CO Holdings鈥� and collectively with iHeartCommuncations and 茄子污污视频, the 鈥淚ssuers鈥�), today commenced private offers (the 鈥淓xchange Offers鈥�) to holders of certain series of iHeartCommunications鈥� outstanding debt securities (the 鈥淓xisting Notes鈥�) to exchange the Existing Notes for new securities of the Issuers (the 鈥淣ew Securities鈥�). Concurrently with the Exchange Offers, iHeartCommunications is also soliciting consents (the 鈥淐onsents鈥� and such solicitations, the 鈥淐onsent Solicitations鈥� and, together with the Exchange Offers, the 鈥淥ffers鈥�) from holders of Existing Notes to certain amendments to the indentures and security documents governing the Existing Notes. CCO Holdings is a newly-formed entity that will hold an approximate 89.9% equity interest in Clear Channel Outdoor Holdings, Inc. (鈥淐COH鈥�) upon closing of the Offers if the High Participation Threshold (as defined below) is achieved. 鈥嬧�嬧�嬧�嬧��