April 02, 2014
The proceeds from this transaction will be used to continue the planned spin-off of CBS Outdoor from CBS Corporation (CBS). CBS, which will own 83 percent of CBS Outdoor following the IPO, plans to convert CBS Outdoor into a real estate investment trust (REIT) later this year.
The New York-based Weil team advising the underwriters on the IPO of CBS Outdoor was led by Capital Markets partner Matthew Bloch and and included Tax partner Larry Gelbfish; Capital Markets associates Andrew Woodworth, Lisa Yun and Daniel Evens; and Tax associates Todd Hatcher and Gladriel Shobe.
Earlier this year, Weil advised on two other transactions related to the financing of CBS’s spin-off of CBS Outdoor. Matthew Bloch led a team representing the underwriters in a $800 million high yield bond offering by CBS Outdoor Americas Capital LLC and CBS Outdoor Americas Capital Corporation, and a Weil team led by Global Finance head Daniel Dokos advised the lead arrangers on $1.2 billion senior secured credit facilities for CBS Outdoor Americas Capital LLC and CBS Outdoor Americas Capital Corporation.
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