
(In thousands)	Maturity	June 30, 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		3,489		3,636
Original issue discount		(2,967)		(3,605)
Long-term debt fees		(38,154)		(42,299)
Total debt		5,107,629		5,102,993
Less: Current portion		314		312
Total long-term debt		$	5,107,315	$	5,102,681

The aggregate market value of the Company’s debt, based on quoted market prices, was approximately $5.3 billion as of June 30, 2026 and December 31, 2025. Under the fair value hierarchy established by ASC 820-10-35, these inputs are classified as Level 1.

As of June 30, 2026, the Company had $87.6 million of letters of credit outstanding under its receivables-based credit facility, resulting in $112.4 million of excess availability, and a $7.0 million letter of credit outstanding under its revolving credit facility, resulting in $93.0 million of remaining excess availability. Additionally, as of June 30, 2026, the Company had $42.6 million of surety bonds and $10.9 million of bank guarantees outstanding, a portion of which was supported by $2.7 million of cash collateral. A portion of these letters of credit and guarantees related to the Company’s former business in Spain, which was sold on August 4, 2026. Refer to Note 2 for additional information.

In the second quarter of 2026, the Company solicited consents from (i) holders of its senior secured notes, (ii) the lenders under the credit agreement governing its term loan and revolving credit facilities (the “Senior Secured Credit Agreement”), and (iii) the lenders under its receivables-based credit agreement to approve certain amendments to the applicable debt documents. Following receipt of the requisite consents, the Company entered into supplemental indentures with respect to its senior secured notes, as well as amendments to the Senior Secured Credit Agreement and its receivables-based credit agreement. These amendments provide that the Merger will not constitute a change of control under the applicable debt documents and add or amend certain related defined terms.

The supplemental indentures relating to the senior secured notes and the amendment to the Senior Secured Credit Agreement are effective but will become operative only upon consummation of the Merger and will cease to be effective if the Merger is not completed. The amendment to the receivables-based credit agreement will become effective upon consummation of the Merger and will cease to be operative if the Merger is not completed. Upon becoming effective, the amendment to the receivables-based credit agreement will also, among other things: (i) extend the maturity date of the credit agreement to a date that is five years from the consummation of the Merger, (ii) increase the revolving credit commitments from $200.0 million to $250.0 million, (iii) revise the borrowing base to expand eligible accounts thereunder, and (iv) add flexibility to permit qualified securitization financings.

Additionally, the Company has issued conditional notices of redemption for its outstanding 7.750% Senior Notes due 2028 and 7.500% Senior Notes due 2029, providing for their redemption upon satisfaction of the applicable conditions, including consummation of the Merger.