Clear Channel Seeks Extension of Long-Term Debts

Clear Channel Communications, Inc. has announced that it is  seeking, subject to market and customary conditions, to extend $1.5 billion in aggregate principal amount of outstanding term loans B and C due 2016 until 2018.

The company says the new extended term loans will have the same security and guarantee package as the outstanding term loans B and C.

These efforts are part of the Company’s continuing efforts to optimize its overall capital structure.