Consolidated Communications Holdings, LLC, a prominent fiber communications provider in the United States, has completed a series of financing transactions totaling $3.344 billion. Paul, Weiss provided legal advice to Consolidated Communications on these financial arrangements.
The financing comprises three components: an inaugural fiber securitization with asset-backed term notes amounting to $1.344 billion, a commitment for a $500 million variable funding note facility, and a $1.5 billion secured revolving warehouse facility entered into by a Consolidated affiliate.
The asset-backed term notes are backed by existing and future fiber-enabled customers across various states and include the necessary fiber optic and network infrastructure. These notes have an anticipated repayment date set for May 2030. The funds raised from these transactions will be allocated towards general corporate purposes such as growth initiatives, expansion of the fiber network, and repayment of existing debt.
The legal team from Paul, Weiss was led by corporate partners Mikhel Schecter and Robert Zochowski. The team also included partners Daniel Fuschillo, Christodoulos Kaoutzanis, Brian Lavin, John Kennedy, Manuel Frey, Hilary Christian; counsel Jordan Yarett and Gabriella Toossi; tax partners Reuven Garrett and Brad Okun; restructuring partners Kyle Kimpler and Sean Mitchell; litigation partners John Carlin and Nicole Succar with counsel Audrey Paquet; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; executive compensation partner Ron Aizen with counsel Jake Glazeski; and practice management attorney Margot Wagner.
