Arrangement of Financing for Acquisition of Southern Light by Uniti Group

On April 10, 2017, Uniti Group Inc. announced that it has entered into a definitive agreement to acquire Southern Light, LLC for aggregate consideration of approximately $700 million in cash and equity, subject to adjustment in accordance with the acquisition agreement. Cravath represented the lead arrangers, led by Citigroup Global Markets Inc., JPMorgan Chase Bank, N.A. and RBC Capital Markets, LLC, in connection with the arrangement of committed debt financing made available to Uniti Group for the acquisition, which is expected to close during the third quarter of 2017.

Uniti Group is an internally managed real estate investment trust that 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. Southern Light is a leading provider of data transport services along the Gulf Coast region serving twelve attractive Tier II and Tier III markets across Florida, Alabama, Louisiana, Georgia and Mississippi.

The Cravath team was led by partners Andrew J. Pitts and Joseph D. Zavaglia and included associates Elizabeth J. Zhang, Samuel P. Niles and Nicholas P. Makarov.