Bond holders give consent to CCU


No surprise here. Clear Channel Communications reports that the overwhelming majority of its bondholders tendered their bonds to be bought back as the company goes private and also gave their consents to amend the terms of the bonds to allow for the buyout. CCU said it received tenders and consents for 94.76% of its 7.65% Clear Channel senior notes due 2010 and 86.16% of its AMFM Operating Inc. 8% senior notes due 2008 by the December 31st deadline. The company has now extended the deadline to January 16th, with the same terms, including the 30 bucks per 1,000 face value bonus for those who give their consents to the amendments. In all, the tender offers cover about 1.4 billion worth of bonds.