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Crown Castle's $8.85 Billion Bridge and Backstop Commitments

Cravath represented Crown Castle International Corp. (“Crown Castle”), in connection with its $7.1 billion bridge commitment to be used to finance Crown Castle’s pending acquisition of LTS Group Holdings LLC (“Lightower”), which was announced on July 18, 2017. Cravath also represented Crown Castle in connection with a commitment by Crown Castle’s financing sources to provide, under certain circumstances, a “backstop” senior unsecured credit facility, consisting of a $1.75 billion revolving credit facility and a term loan facility in an aggregate principal amount equal to the term loans outstanding under Crown Castle’s existing credit agreement.

The Cravath team included partner George E. Zobitz, senior attorney Christopher J. Kelly and associates Jared B. Taylor and Adam M. Sanchez.