We advised the borrower on the transaction

Davis Polk advised Uniti Group Inc. in connection with a $350 million secured multi-draw bridge term loan credit facility. The bridge facility was secured by substantially all the assets of newly created bankruptcy-remote special purpose entities, consisting primarily of contracts and the rights of the entities under certain indefeasible rights of use agreements relating to certain of Uniti’s fiber-based service business assets. Proceeds of the facility will be used for general corporate purposes and to bridge to an expected offering of asset-based debt securities to be secured primarily by the fiber network assets relating to Uniti’s fiber-based service business in the Gulf Coast region.

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure and is a provider of fiber and other wireless solutions for the communications industry.

The Davis Polk finance team included partners Meyer C. Dworkin and Christopher Nairn-Kim, counsel Jonathan B. Brown and associates Zoe Chen and Pablo Solorzano. The real estate team included partner Brian D. Hirsch, counsel Lawrence R. Plotkin and associate Gregory D. Crane. Partner Michael Kaplan and counsel John H. Runne provided capital markets advice. All members of the Davis Polk team are based in the New York office.

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