As a followup to our Tuesday article, Clear Channel, in a press release, announced that it priced its Senior Note offering of $1billion, due 2028, at an interest rate of 7.750%. The issuance and sale of the Notes is expected to be completed on February 17, 2021, subject to customary […]
SAN ANTONIO, Feb. 1, 2021 /PRNewswire/ — Clear Channel Outdoor Holdings, Inc. (CCO) (the “Company”) announced today that it will offer, subject to market and customary conditions, $1,000,000,000 aggregate principal amount of Senior Notes due 2028 (the “Notes”) in a private offering that is exempt from registration under the Securities […]
JCDecaux announced revenues for 2020. It wasn’t pretty. Revenues down 41% for the full years and 38% for the fourth quarter. This is one company that won’t see a rebound until the later half of next year when covid is brought under control and people start riding transit again. Here’s […]
By Craig Berry, Stark Capital Solutions Stark Capital focuses in two niche Industries: Billboards and Cell Towers. Our two cents on the comment: “Towers are selling for 20-30 times tower cash flow, and typically getting over 20 offers per engagement” is a very accurate assessment of the current Tower M&A […]
Huntington Outdoor President Justin Powell comments on a recent Billboard Insider article. This caught my attention: “We are selling towers for 20–30 times tower cash flow, and typically get over twenty offers per engagement.” Why aren’t billboards selling for multiples like this? Insider’s take: Out of home assets typically trade […]
San Francisco, CALIF., January 19, 2021 – Volta, the industry leader in commerce-centric electric vehicle (EV) charging networks, today announced an oversubscribed Series D financing of $125 million. Goldman Sachs acted as exclusive placement agent to the Company in connection with the financing. Volta builds and operates an EV charging network […]
Applications for the next round of PPP loans should start showing up this week. Since the application portals are initiated by each bank in the program, timing may vary. Most banks will have already set up portals previously, Insider is expecting this should move quickly. Let’s deal with some basic […]
Cellular billboard antennas are the-next-big-thing-that’s-going-to-happen-but-never-does. Insider suspects this is because many billboards are in rural areas with little additional demand for cellular/wireless antennas. Insider has received only 1 request from a cellular company seeking wireless antenna space on a Circle City Outdoor billboard. It was looking for a billboard near […]
OUTFRONT Media announced yesterday that two of its wholly-owned subsidiaries priced a private offering of $500.0 million in aggregate principal amount of 4.250% Senior Notes due 2029 (the “notes”). The notes are to be sold at an issue price of 100.0% of the principal amount. The offering is expected to […]
Insider wants to introduce a new contributor to our website. Ken Altena is a longtime commercial banker and out of home lender from Seattle, WA. Here are Ken’s thoughts on the Lamar refinancing. On January 7, 2021, Lamar Media Corp., a wholly owned subsidiary of Lamar Advertising Company, agreed […]
