Clear Channel Outdoor Extends ABL to Five Years, Ups Revolver to $250 Million Ahead of Merger
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Clear Channel Outdoor has amended its ABL Credit Agreement to enhance liquidity ahead of its merger with Madison Parent. The amendment extends the maturity to five years, increases revolving commitments from $200 million to $250 million, and revises the change-of-control definition to prevent default during the merger. The changes will take effect upon the merger's closing.
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