Item 7.01 Regulation FD Disclosure.
Clear Channel Outdoor Holdings, Inc. (the "Company") is party to a credit
agreement (the "Senior Secured Credit Agreement") which governs the Company's
$175.0 million cash flow revolving credit facility (the "Revolving Credit
Facility"). On March 24, 2020, the Company made a cautionary draw of
$150.0 million under the Revolving Credit Facility to preserve financial
flexibility. As a result, as of March 24, 2020, the Company had $150.0 million
of borrowings, $20.2 million of letters of credit and $4.8 million of excess
availability under the Revolving Credit Facility.
On March 25, 2020, the Company issued a press release to announce the draw under
the Revolving Credit Facility and provide a financial update. A copy of the
press release is attached as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press Release dated March 25, 2020.
EX-104 Cover Page Interactive Data File (formatted as inline XBRL and
contained in Exhibit 101.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses