Clear Channel plans $750 mln debt sale-IFR

NEW YORK Dec 11 (Reuters) - A unit of advertising company Clear Channel Outdoor Holdings (CCO.N) plans to sell $750 million in new bonds, which are expected to price next week, said International Financing Review.

Proceeds from the sale will be used to repay an approximately $730 million loan of Clear Channel Outdoor to its parent Clear Channel Communications, said IFR, a Thomson Reuters service.

The Wall Street Journal reported earlier this week that Clear Channel Outdoor was in talks with lenders to raise as much as $2.5 billion to repay intercompany loans to its parent.

Clear Channel Communications has struggled with its debt load after being acquired last July in a $17.9 billion takeover by private equity funds Thomas H. Lee Partners [THL.UL] and Bain Capital.

The company plans to sell the $750 million in 8-year bonds in the 144a private placement market, with pricing expected on Wednesday, IFR said.

Clear Channel Communications' 11 percent bond due 2016 rose 3.25 cents to 63.5 cents on the dollar on Friday, according to MarketAxess. (Reporting by Karen Brettell; Editing by Theodore d'Afflisio)