We advised the initial purchasers on the high-yield debt offering

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A / Regulation S offering by Clear Channel Outdoor Holdings, Inc. of $1.05 billion aggregate principal amount of its 7.500% senior notes due 2029.

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 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. All members of the Davis Polk team are based in the New York office.