High‑Yield Senior Secured Debt Offering by CS&L and CSL Capital

Cravath represented the initial purchasers, Citigroup and J.P. Morgan Securities, in connection with the US$150 million 144A/Reg. S high‑yield senior secured debt offering of Communications Sales & Leasing, Inc. (CS&L) and CSL Capital, LLC. CS&L is an internally managed REIT engaged in the acquisition and construction of mission‑critical infrastructure in the communications industry. The transaction closed on June 14, 2016.

The Cravath team included partners Andrew J. Pitts and Joseph D. Zavaglia and associates Coy E. Brewer III, Elizabeth J. Zhang and Max A. Greenwald.