Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Long-Term Debt

(In thousands)	December 31,		December 31,
	2014		2013
Senior Secured Credit Facilities		7,231,222		8,225,754
Receivables Based Facility Due 2017		-		247,000
Priority Guarantee Notes		5,324,815		4,324,815
Subsidiary Revolving Credit Facility Due 2018		-		-
Other Secured Subsidiary Debt		19,257		21,124
Total Consolidated Secured Debt		12,575,294		12,818,693
10.75% Senior Cash Pay Notes Due 2016		-		94,304
11.00%/11.75% Senior Toggle Notes Due 2016		-		127,941
14.0% Senior Notes Due 2021		1,661,697		1,404,202
Legacy Notes		667,900		1,436,455
10.0% Senior Notes Due 2018		730,000		-
Subsidiary Senior Notes		4,925,000		4,925,000
Other Subsidiary Debt		1,024		10
Purchase accounting adjustments and original issue discount		(234,897)		(322,392)
		20,326,018		20,484,213
Less: current portion		3,604		453,734
Total long-term debt	$	20,322,414	$	20,030,479

Senior Secured Credit Facilities
As of December 31, 2014, the Company had senior secured credit facilities consisting of:
(In thousands)			December 31,		December 31,
		Maturity Date	2014		2013
Term Loan B		1/29/2016	$	916,061		1,890,978
Term Loan C		1/29/2016		15,161		34,776
Term Loan D		1/30/2019		5,000,000		5,000,000
Term Loan E		7/30/2019		1,300,000		1,300,000
	Total Senior Secured Credit Facilities		$	7,231,222	$	8,225,754

Priority Guarantee Notes
As of December 31, 2014, the Company had outstanding Priority Guarantee Notes consisting of:
(In thousands)					December 31,		December 31,
		Maturity Date	Interest Rate	Interest Payment Terms	2014		2013
9.0% Priority Guarantee Notes due 2019		12/15/2019	9.0%	Payable semi-annually in arrears on June 15 and December 15 of each year	$	1,999,815		1,999,815
9.0% Priority Guarantee Notes due 2021		3/1/2021	9.0%	Payable semi-annually in arrears on March 1 and September 1 of each year		1,750,000		1,750,000
11.25% Priority Guarantee Notes due 2021		3/1/2021	11.25%	Payable semi-annually on March 1 and September 1 of each year		575,000		575,000
9.0% Priority Guarantee Notes due 2022		9/15/2022	9.0%	Payable semi-annually in arrears on March 15 and September 15 of each year		1,000,000		-
	Total Priority Guarantee Notes				$	5,324,815		4,324,815

Legacy Notes
As of December 31, 2014, the Company had outstanding senior notes (net of $57.1 million aggregate principal amount held by a subsidary of the Company) consisting of:
(In thousands)		December 31,		December 31,
		2014		2013
5.5% Senior Notes Due 2014		$	-		461,455
4.9% Senior Notes Due 2015			-		250,000
5.5% Senior Notes Due 2016			192,900		250,000
6.875% Senior Notes Due 2018			175,000		175,000
7.25% Senior Notes Due 2027			300,000		300,000
	Total Legacy Notes	$	667,900		1,436,455

Subsidiary Senior Notes
As of December 31, 2014, the Company's subsidiary, Clear Channel Worldwide Holdings, Inc. ("CCWH") had outstanding notes consisting of:
(In thousands)					December 31,		December 31,
		Maturity Date	Interest Rate	Interest Payment Terms	2014		2013
CCWH Senior Notes:
6.5% Series A Senior Notes Due 2022		11/15/2022	6.5%	Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year	$	735,750		735,750
6.5% Series B Senior Notes Due 2022		11/15/2022	6.5%	Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year		1,989,250		1,989,250
CCWH Senior Subordinated Notes:
7.625% Series A Senior Notes Due 2020		3/15/2020	7.625%	Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year		275,000		275,000
7.625% Series B Senior Notes Due 2020		3/15/2020	7.625%	Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year		1,925,000		1,925,000
	Total CCWH Notes				$	4,925,000		4,925,000

Schedule of Maturities of Long-Term Debt

Future Maturities of Long-term Debt
Future maturities of long-term debt at December 31, 2014 are as follows:
(in thousands)
2015	$	3,604
2016		1,126,920
2017		8,208
2018		909,272
2019		8,300,043
Thereafter		10,212,868
Total (1)	$	20,560,915

⁽¹⁾ Excludes purchase accounting adjustments and original issue discount of $234.9million, which is amortized through interest expense over the life of the underlying debt obligations.