In a transaction that closed on July 31, 2023, Milbank LLP advised the initial purchasers in a $607 million securitization of billboard revenues for Adams Outdoor Advertising Limited Partnership. The Milbank deal team was led by Alternative Investments partners Martin Eid, Michael Urschel and James Warbey, Capital Markets partner Brett Nadritch, Executive Compensation and Employee Benefits partner Joel Krasnow, Tax partners Eschi Rahimi-Laridjani and Andrew Walker, Transportation and Space partner Bijan Ganji, special counsel Bert Eidson, Miranda Stupart and Craig Cohen and associates Olivia Lin, Charlene Yin, Shermarkeh Hussein, Jeff Zhou, John Harrison, Alex Becker, Alyssa Julian, Ethan Heben, Peter West, Wilson Carneiro and others. The transaction is secured by a portfolio of traditional and digital outdoor advertising assets and follows a number of digital infrastructure securitization transactions closed by the Milbank team in 2023.