- Clear Channel Outdoor Holdings (NYSE:CCO) is launching an underwritten public secondary offering of common stock.
- It proposes to sell 100M shares, with underwriters getting a 30-day greenshoe option to buy up to 15M additional shares.
- Net proceeds along with cash on hand will be used to redeem about $406M of the 9.25% senior subordinated notes due 2024 of subsidiary Clear Channel Worldwide Holdings.
- Book-runners are Morgan Stanley, J.P. Morgan, Barclays Capital, Citigroup Global Markets and Wells Fargo Securities.
- Shares are down 1% after hours.
Clear Channel Outdoor launches 100M-share secondary
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Symbol | Last Price | % Chg |
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CCO | - | - |
Clear Channel Outdoor Holdings, Inc. |