Clear Channel Outdoor (CCO) +13.4% premarket after announcing plans to raise ~$2.2B in debt to...


Clear Channel Outdoor (CCO) +13.4% premarket after announcing plans to raise ~$2.2B in debt to pay for a $6.08/share one-time dividend. Proceeds will go toward paying a dividend to shareholders, including Clear Channel Holdings, which owns an 89% stake and will use the money to pay back secured debt that comes due in 2014.

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