Clear Channel Outdoor Holdings is planning to raise $750 million through a debt issue, Reuters reports. The U.S. radio and outdoor displays company is seeking to sell notes maturing in 2021.

The Texas-based company intends to use the proceeds to pay down $730 million in debt it owes to its parent company, Clear Channel Communications. It is also planning to revamp its senior secured credit facilities to give it flexibility to incur new debt.

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