(CelebrityAccess News Service) – Clear Channel Communications Inc. filed with the U.S. Securities and Exchange Commission to periodically sell up to $3 billion in debt, stock and other securities. Net proceeds from the sale will be used for general corporate purposes, including debt repayment, the company said in a shelf registration statement.
The filing is designed to give companies advance regulatory permission to sell securities in one or more offerings. Terms and conditions are generally determined at the time of sale. –Jane Cohen and Bob Grossweiner