Davis Polk advised Communications Sales & Leasing, Inc., as issuer (“CS&L”), and CSL Capital, LLC, as co-issuer, in connection with the Rule 144A and Regulation S offering of $150 million aggregate principal amount of their 6.00% senior secured notes due 2023. The notes were issued as an add-on to their existing 6.00% senior secured notes due 2023. The notes are guaranteed by certain of CS&L’s domestic subsidiaries. CS&L intends to use the net proceeds from this offering to repay outstanding amounts under its revolving credit facility.

 

CS&L, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission-critical communications infrastructure and is a leading provider of wireless infrastructure solutions for the communications industry. CS&L currently owns 3.9 million fiber strand miles, 85 wireless towers and other communications real estate throughout the United States and Mexico.

 

The Davis Polk corporate team included partner Michael Kaplan, counsel Meredith L. Mackey and associates Alice Z. Chen, Donald Shum and Yolanda Min. The tax team included partner Michael Mollerus and associate Anne E. McGinnis. Partner Joseph P. Hadley and associate Mayer J. Steinman provided credit advice. All members of the Davis Polk team are based in New York.

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