The 9% notes are due 2028

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 $750 million aggregate principal amount of its 9.000% senior secured notes due 2028. The notes are guaranteed by certain of Clear Channel’s subsidiaries.

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 capital markets team included partners Dan Gibbons and Marcel Fausten and associates Jakub P. Jozwiak and Lincoln Jim. The finance team included counsel Adela Troconis and associate Elizabeth Rodgers. Partner Mario J. Verdolini provided tax advice. The intellectual property team included partner Pritesh P. Shah. Counsel David A. Zilberberg provided environmental advice. All members of the Davis Polk team are based in the New York office.

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