Cravath represented the initial purchasers, led by Goldman, Sachs & Co. and Citi, in connection with the US$1 billion 144A/Reg. S high-yield priority guarantee debt offering of Clear Channel Communications, Inc., the largest radio company and one of the largest outdoor media companies in the world at the time of the offering. Clear Channel Communications, Inc. is a portfolio company of Bain Capital Partners, LLC and Thomas H. Lee Partners L.P. The transaction closed on February 23, 2011.
The Cravath team included partner LizabethAnn R. Eisen and associates Brandon R. DeFrehn and Nicholas M. Foley on corporate matters and partner Andrew W. Needham and associate Dana Frenkel on tax matters.