| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 05/01/2019 |
3. Issuer Name and Ticker or Trading Symbol
Clear Channel Outdoor Holdings, Inc. [ CCO ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) 05/13/2019 |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 75,011,522(1) | I | See footnote(2) |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Explanation of Responses: |
| 1. Certain investment vehicles managed by the Reporting Person entered into trades to purchase debt securities of iHeartMedia, Inc. and certain of its direct and indirect domestic subsidiaries (collectively, the "Debtors") that had not settled at the time the Debtors emerged from bankruptcy. As a result, the sellers of the Debtors' debt securities received shares of the Issuer's common stock in exchange for such debt securities and delivered those shares to the investment vehicles managed by the Reporting Person after its original Form 3 was filed. These deliveries occurred in August and December 2019 and May 2020 and, as a result, 820,614 shares of the Issuer's common stock were not included in the Reporting Person's original Form 3 and were not reflected in four Forms 4 filed by the Reporting Person after its original Form 3 was filed. |
| 2. The Reporting Person is the investment adviser to certain investment advisory clients or discretionary accounts, including two portfolios of PIMCO Funds, a Massachusetts business trust, one of which, PIMCO Funds: PIMCO Income Fund, then held 21,375,679 shares of Common Stock and warrants to purchase 29,304,094 shares of Common Stock and the other of which then held 100,201 shares of Common Stock and warrants to purchase 1,965,668 shares of Common Stock. The Reporting Person disclaims beneficial ownership in the reported shares, except to the extent of its pecuniary interest therein. |
| Remarks: |
| /s/ Jason Nagler, Senior Vice President, Pacific Investment Management Company LLC | 07/31/2020 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||