Clear Channel’s $1.05 Billion Notes Offering

Davis Polk advised the representative of the initial purchasers in the offering.

Clear Channel Outdoor Holdings, Inc. executed the offering of $1.05 billion aggregate principal amount of its 7.500% senior notes due 2029.

The Initial Purchasers included Morgan Stanley & Co. LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC.

Clear Channel Outdoor Holdings, Inc., based in San Antonio, Texas, is one of the world’s largest out-of-home advertising companies and the only global out-of-home advertising company with scaled presence in the United States and Europe.

The Davis Polk corporate team included partners Michael Kaplan (Picture) and Marcel Fausten, counsel Dan Gibbons and associate Moses Farzan Nekou. Partner Po Sit and associate Benjamin Helfgott provided tax advice. The intellectual property and technology transactions team included partner Pritesh P. Shah and associate S. Dream Montgomery. The environmental team included counsel David A. Zilberberg and associate Cristina Harshman.

Involved fees earner: Moses Farzan Nekou – Davis Polk & Wardwell; Marcel Fausten – Davis Polk & Wardwell; Dan Gibbons – Davis Polk & Wardwell; Cristina Harshman – Davis Polk & Wardwell; Benjamin Helfgott – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; S. Dream Montgomery – Davis Polk & Wardwell; Pritesh P. Shah – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; David Zilberberg – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Deutsche Bank Securities; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Morgan Stanley; Wells Fargo Securities;

Author: Martina Bellini