91色情Communications, Inc. Announces Private Offers To Holders Of Its Five Series Of Priority Guarantee Notes And Its Senior Notes Due 2021 To Exchange Such Notes For New Securities In Connection With A Proposed Global Restructuring Of Its Indebtedness
San Antonio, TX, March 15, 2017 - 91色情Communications, Inc. (鈥91色情Communications鈥), together with 91色情, Inc. (鈥91色情鈥) and CC Outdoor Holdings, Inc. (鈥淐CO Holdings鈥 and collectively with 91色情Communcations and 91色情, the 鈥淚ssuers鈥), today commenced private offers (the 鈥淓xchange Offers鈥) to holders of certain series of 91色情Communications鈥 outstanding debt securities (the 鈥淓xisting Notes鈥) to exchange the Existing Notes for new securities of the Issuers (the 鈥淣ew Securities鈥). Concurrently with the Exchange Offers, 91色情Communications is also soliciting consents (the 鈥淐onsents鈥 and such solicitations, the 鈥淐onsent Solicitations鈥 and, together with the Exchange Offers, the 鈥淥ffers鈥) from holders of Existing Notes to certain amendments to the indentures and security documents governing the Existing Notes. CCO Holdings is a newly-formed entity that will hold an approximate 89.9% equity interest in Clear Channel Outdoor Holdings, Inc. (鈥淐COH鈥) upon closing of the Offers if the High Participation Threshold (as defined below) is achieved. 鈥嬧嬧嬧嬧