The private equity owners of Clear Channel Communications are confident of winning a stand-off with lenders to the heavily indebted radio and outdoor advertising group, according to the newly-appointed head of its international business.

William Eccleshare, appointed on Thursday just as some lenders threatened to turn down a proposed debt exchange aimed at averting a breach of its banking covenants, said: “I’ve clearly done my due diligence and I believe it’s a very sound situation”.