It’s taking several transactions for CBS Corp. to spin off its advertising business, and Weil, Gotshal & Manges Corporate Partner Jennifer A. Bensch has worked closely with the underwriters to make those deals a success.
In early April, CBS Outdoor Americas Inc. raised $644 million in an IPO, and Bensch and Weil Partner Matthew Bloch led the team that advised Goldman Sachs, Bank of America Merrill Lynch, J.P. Morgan, Morgan Stanley and the other underwriters in the deal. The proceeds from the IPO will be used to continue the planned spin-off of CBS Outdoor from CBS Corp., according to Weil. CBS, which owns 83 percent of CBS Outdoor following the IPO, plans to convert CBS Outdoor into a real estate investment trust (REIT) later this year.
Earlier this year, Bensch and Bloch also led the team representing the underwriters in the $800 million high yield bond offering by CBS Outdoor Americas Capital LLC and CBS Outdoor Americas Capital Corp. (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 Corp.)
Bensch, a partner in Weil’s Corporate Department, is a member of the Capital Markets practice. She represents investment banks, domestic and international issuers and private investors in a broad range of securities offerings and advises companies with respect to SEC reporting obligations, corporate governance and other corporate and securities law matters. She also represents clients in connection with liability management transactions, including debt tender and exchange offers and consent solicitations.