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Clear Channel Outdoor Holdings, Inc. Announces Proposed Private Offering of Senior Secured Notes

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10 months ago

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SAN ANTONIO, Feb. 26, 2024 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) announced today that it will offer, subject to market and customary conditions, $865,000,000 aggregate principal amount of Senior Secured Notes due 2030 (the “Notes”) in a private offering that is exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).

The Notes will be guaranteed on a senior secured basis by certain of the Company’s wholly owned domestic subsidiaries (the “Guarantors”). The Notes and the related guarantees will be secured, subject to permitted liens and certain other exceptions, on a first-priority basis by security interests in all of the Company’s and the Guarantors’ assets securing the Company’s existing senior secured credit facilities and existing senior secured notes (other than accounts receivable and related assets securing the Company’s existing receivables-based credit facility (the “Receivables Facility”)) and, on a second-priority basis, by accounts receivable and related assets securing the Receivables Facility.

The offering of the Notes is part of a refinancing transaction whereby the Company intends to enter into an amendment to its existing senior secured credit facilities, which is expected to extend the maturity of the Company’s term loan B facility from 2026 to 2028, among other amendments. The Company expects to close this transaction concurrently with the closing of the offering of the Notes. The closing of the offering of the Notes is not conditioned on the closing of any amendment to the Company’s existing senior secured credit facilities.

The Company intends to use the proceeds from the Notes to (i) prepay a portion of the borrowings outstanding under the Company’s existing senior secured term loan facility (including accrued but unpaid interest related thereto) and (ii) pay related transaction fees and expenses.

The Notes and related guarantees will be offered only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act and, to persons outside of the United States, in compliance with Regulation S under the Securities Act. The Notes and the related guarantees have not been registered under the Securities Act or the securities laws of any state or other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities and foreign securities laws.

This press release is for informational purposes only and shall not constitute an offer to sell nor the solicitation of an offer to buy the Notes or any other securities. The offering is not being made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful.

While the Company plans to present at J.P. Morgan’s 2024 Global High Yield & Leveraged Finance Conference on February 27, 2024, in light of the offering of the Notes, the Company no longer plans to make available on its investor website a live audio webcast or a replay of its presentation.

About Clear Channel Outdoor Holdings

The Company is at the forefront of driving innovation in the out-of-home advertising industry. The Company’s dynamic advertising platform is broadening the pool of advertisers using its medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of its diverse portfolio of assets, the Company connects advertisers with millions of consumers every month across more than 330,000 print and digital displays in 19 countries, excluding countries held for sale.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this release constitute “forward-looking statements,” including within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include, but are not limited to, all statements other than those made solely with respect to historical facts and include, but are not limited to, statements regarding the offering and the anticipated terms and use of proceeds of the Notes. The words “will,” “believe,” “expect,” “anticipate,” “continue,” “look forward to,” “well-positioned to,” “remains,” “further,” “estimate,” “forecast,” “goals,” “targets” and similar words and expressions are intended to identify such forward-looking statements. In addition, numerous risks, uncertainties and other factors may cause actual results to differ materially from those expressed in any forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, whether or not the offering will be consummated and the terms, size, timing and use of proceeds of the offering of the Notes as well as any amendment to the Company’s existing senior secured credit facilities. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company’s ability to control or predict. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Clear Channel Outdoor Holdings, Inc.

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Fangzhou Inc. Honored as an “Outstanding Innovation Firm” by Yangcheng Evening News

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5 minutes ago

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December 27, 2024

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GUANGZHOU, China, Dec. 27, 2024 /PRNewswire/ — Fangzhou Inc. (“Fangzhou” or the “Company”) (06086.HK), a leader in Internet healthcare solutions, was honored as an “Outstanding Innovation Firm” at the “Precision Engineering: 2024 Technology Pioneers Gala” held by Yangcheng Evening News on December 13th. Fangzhou garnered recognition for its significant milestones in 2024, including a successful listing on the Main Board of the Hong Kong Stock Exchange, and its role in spearheading the ongoing digital transformation of China’s healthcare sector.

Dr. Xie Fangmin, founder, chairman, and CEO of Fangzhou, remarked, “We are thrilled to receive this award from Yangcheng Evening News as an ‘Outstanding Innovation Firm’. Adhering to our corporate mission of ‘Better Health for All’, we will continue to cultivate a bold vision for the future of the Internet healthcare sector.”

2024 has been a significant year in Fangzhou’s development journey. Following its IPO in July 2024, the Company received commendation from the Guangzhou Municipal People’s Government for its contributions in advancing the digital transformation of the healthcare industry and enhancing public health. In October, Fangzhou was featured on the 2024 Guangdong “AI Catalyst” Enterprise Billboard at the 2024 Guangdong-Hong Kong-Macao Greater Bay Area Artificial Intelligence Industry Conference. More recently, the Company launched its ” AI Agent Solution” in November 2024 in partnership with Tencent Healthcare and Baidu Health, providing more efficient access to healthcare information and analysis for both consumers and healthcare professionals.

About Fangzhou Inc.

Fangzhou Inc. (06086.HK) is China’s leading online chronic disease management platform. With 45.6 million registered users and 217,000 registered doctors on its platform (as of June 30, 2024), the Company provides tailored medical care and precision medicine for a growing population of chronic disease patients. For more details, visit https://investors.jianke.com.

About Yangcheng Evening News

Yangcheng Evening News, first published in October 1957, was among the first broadly distributed evening newspapers established after the founding of People’s Republic of China. Produced in Guangzhou as the flagship publication of the Yangcheng Evening News Group, the newspaper has built a strong reputation for its critical and independent perspective, delivering engaging news coverage on a variety of topics that resonate with people’s daily lives.

Media Contact

For further inquiries or interviews, please reach out to:
Xingwei Zhao Associate Director of Public Relations Email: pr@jianke.com 

Disclaimer: This press release contains forward-looking statements. Actual results may differ materially from those anticipated due to various factors. Readers are cautioned not to place undue reliance on these statements

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SOURCE Fangzhou Inc.

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XCMG Launches Used Equipment Certification to Drive Sustainable Development in Construction Machinery

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5 minutes ago

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December 27, 2024

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XUZHOU, China, Dec. 27, 2024 /PRNewswire/ — XCMG Machinery (“XCMG”, SHE: 000425) has officially launched the XCMG Certified Used Equipment brand, marking a significant milestone in the development of its circular business. This initiative reflects XCMG’s commitment to addressing industry challenges, promoting green circular economy principles, and accelerating the transition toward sustainable development and carbon neutrality.

In recent years, China’s construction machinery industry has made remarkable strides. Leveraging its deep technological expertise, extensive manufacturing experience, and well-established brand influence, XCMG has established its official certified used equipment brand. This initiative aims to empower industry transformation, enhance the lifecycle value of signature equipment, and offer customers comprehensive quality and service guarantees across the value chain.

At the recent bauma China Exhibition, XCMG and Ritchie Bros. co-hosted a used equipment auction, showcasing over 300 fully inspected and refurbished units from 16 XCMG product categories, including cranes, excavators, mining equipment, compactors, loaders, concrete machinery, and piling equipment. These units were launched on the Ritchie Bros. website, symbolizing a new chapter in the used equipment market.

In line with its vision to become the world’s premier service brand, XCMG also introduced the XCMG TrueCare (“TrueCare”) service brand. TrueCare embodies XCMG’s unrelenting pursuit of integrated solutions, aligning with the Solid to Succeed brand philosophy. The service brand is designed to deliver cutting-edge innovations, stringent quality control, and efficient services, empowering customers to maintain a competitive edge in global markets.

“This initiative will extend the value chain, foster innovation, and elevate XCMG to new heights as a globally recognized brand,” said Liu Jiansen, vice president of XCMG.

The five core missions of XCMG TrueCare are:

Swift: A global service network ensures rapid response to customer needs to minimize downtime.Optimal: Integration of XCMG’s five advanced digital management systems delivers tailored solutions to enhance operational efficiency.Long-term: TCO service models, including extended warranties and certified pre-owned programs, provide full lifecycle care and build lasting customer relationships.Intelligent: Comprehensive smart solutions address customer-specific requirements through the integration of R&D, production, supply, sales, and service.Dedicated: A global call center and a professional team provide 24/7 support, ensuring efficient equipment operation and 100% customer satisfaction.

With these strategic advancements, XCMG is poised to redefine industry standards, driving the adoption of sustainable practices and reinforcing its leadership in the global construction machinery market.

Photo – https://mma.prnewswire.com/media/2588046/XCMG_Launches_Used_Equipment_Certification_Drive_Sustainable_Development_Construction_Machinery.jpg

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Stora Enso Oyj: Notification of Change in Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act (25 December 2024)

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2 hours ago

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December 27, 2024

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STORA ENSO OYJ STOCK EXCHANGE RELEASE 27 December 2024 at 09:00 EET

HELSINKI, Dec. 27, 2024 /PRNewswire/ — Stora Enso Oyj received a notification pursuant to chapter 9, section 5 of the Securities Market Act from BlackRock, Inc on 27 December 2024.

On 25 December 2024, BlackRock’s holding in Stora Enso’s shares decreased below the 5 percent threshold.

% of shares and voting rights (total of 7.A)

% of shares and voting rights through financial instruments (total of 7.B)

Total of both in % (7.A + 7.B)

Resulting situation on the date on which threshold was crossed or reached

4.76% shares

Below 5% voting rights

0.27% shares

Below 5% voting rights

5.04% shares

Below 5% voting rights

Position of previous notification (if applicable)

Below 5% shares

Below 5% voting rights

Below 5% shares

Below 5% voting rights

Below 5% shares

Below 5% voting rights

 

A: Shares and voting rights

Class/type of shares

ISIN code (if possible)

Number of shares and voting rights

% of shares and voting rights

Direct

(SMA 9:5)

Indirect

(SMA 9:6 and 9:7)

Direct

(SMA 9:5)

Indirect

(SMA 9:6 and 9:7)

FI0009005961

37,609,170  shares

Below 5% voting rights

4.76% shares Below 5% voting rights

SUBTOTAL A

37,609,170 shares

Below 5% voting rights

4.76% shares

Below 5% voting rights

B: Financial Instruments according to SMA 9:6a

Type of financial instrument

Expiration date

Exercise/Conversion Period

Physical or cash settlement

Number of shares and voting rights

% of shares and voting rights

American Depositary Receipt (US86210M1062)

N/A

N/A

Physical

596,930 shares

Below 5% voting rights

0.07% shares

Below 5% voting rights

Securites lent

N7A

N/A

Physical

1,036,720 shares

Below 5% voting rights

0.13% shares

Below 5% voting rights

CFD

N/A

N/A

Cash

563,510 shares

Below 5% voting rights

0.07% shares

Below 5% voting rights

SUBTOTAL B

2,197,160 shares

Below 5% voting rights

0.27% shares

Below 5% voting rights

 

Stora Enso has two series of shares. Each A share and every ten R shares carry one vote. Stora Enso has 175,664,079 A shares and 612,955,908 R shares in issue. The Company does not hold its own shares. The total number of Stora Enso shares is 788,619,987 and the total number votes at least 236,959,669.

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

Stora Enso

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

STORA ENSO OYJ

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/stora-enso-oyj/r/stora-enso-oyj–notification-of-change-in-holdings-according-to-chapter-9–section-10-of-the-finnish,c4086606

The following files are available for download:

https://mb.cision.com/Main/13589/4086606/3189711.pdf

STORA ENSO Class R_2024-12-25_Issuer

 

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SOURCE Stora Enso Oyj

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