
(In thousands)	Maturity	March 31, 2026		December 31, 2025
Receivables-Based Credit Facility	June 2030	$	—	$	—
Revolving Credit Facility	June 2030	—		—
Term Loan Facility	August 2028	425,000		425,000
Clear Channel Outdoor Holdings 7.875% Senior Secured Notes	April 2030	865,000		865,000
Clear Channel Outdoor Holdings 7.125% Senior Secured Notes	February 2031	1,150,000		1,150,000
Clear Channel Outdoor Holdings 7.500% Senior Secured Notes	March 2033	900,000		900,000
Clear Channel Outdoor Holdings 7.750% Senior Notes	April 2028	899,311		899,311
Clear Channel Outdoor Holdings 7.500% Senior Notes	June 2029	905,950		905,950
Finance leases		3,564		3,636
Original issue discount		(3,289)		(3,605)
Long-term debt fees		(40,246)		(42,299)
Total debt		5,105,290		5,102,993
Less: Current portion		316		312
Total long-term debt		$	5,104,974	$	5,102,681

The aggregate market value of the Company’s debt, based on quoted market prices, was approximately $5.3 billion as of March 31, 2026 and December 31, 2025. Under the fair value hierarchy established by ASC 820-10-35, these inputs are classified as Level 1.

The Company has letters of credit, surety bonds and bank guarantees related to various operational matters, including insurance, bid, concession and performance bonds.

As of March 31, 2026, the Company had $88.5 million of letters of credit outstanding under its Receivables-Based Credit Facility, resulting in $111.5 million of excess availability, and a $7.0 million of letter of credit outstanding under its Revolving Credit Facility, resulting in $93.0 million of remaining excess availability. Additionally, as of March 31, 2026, the Company had $44.5 million of surety bonds and $10.9 million of bank guarantees outstanding, a portion of which was supported by $2.6 million of cash collateral. A portion of these letters of credit and guarantees related to discontinued operations that were held for sale as of March 31, 2026. Refer to Note 2 for additional information.

In April 2026, the Company solicited consents from holders of its Senior Secured Notes and from the lenders under the credit agreement governing its Term Loan Facility and Revolving Credit Facility (the “Senior Secured Credit Agreement”) to approve certain amendments to the documents governing such indebtedness. Following receipt of the requisite consents, the Company entered into supplemental indentures with respect to the Senior Secured Notes and an amendment to the Senior Secured Credit Agreement to provide that the Merger will not constitute a change of control under such documents and to add or amend certain related defined terms. These supplemental indentures and the amendment are effective but will become operative only upon consummation of the Merger and will cease to be effective if the Merger is not completed.