Clear Channel Outdoor Holdings Inc. has recently entered into a significant financing agreement involving the issuance of two series of senior secured notes. On August 4, 2025, the company completed the private placement sale of $1,150 million in 7.125% Senior Secured Notes due 2031 and $900 million in 7.500% Senior Secured Notes due 2033. These transactions were conducted with qualified institutional buyers under Rule 144A and with international investors complying with Regulation S under the Securities Act of 1933. The notes are secured by a first-priority interest in the company's assets, excluding those securing the ABL Facility, and a second-priority interest in assets securing the ABL Facility. This strategic move is aimed at bolstering the company's financial structure and providing additional capital for its operational and strategic initiatives.