Cahill Represents the Lead Arrangers in Connection with Apollo’s $7.5 Billion Acquisition of ILEC Assets from Lumen Technologies, Inc.
Cahill represented the lead arrangers and administrative agents in connection with a $3.0 billion senior secured first lien term loan facility, $600 million revolving credit facility and a $1.86 billion senior secured bridge facility for Connect Holding II LLC, an Apollo Global Management owned entity, whereby Apollo acquired Lumen Technologies’ ILEC assets in 20 states. Connect Holding provides high-speed fiber optic internet experience in twenty states throughout the Midwest and South. Proceeds of the term loan and bridge facilities were used to finance the acquisition. Proceeds of the revolving credit facility will be used for general corporate purposes.
The Cahill team representing the first lien lead arrangers was led by partner William Miller, counsel Sean Tierney and associates Alex Haberman and Luisa Marin. The Cahill team representing the bridge lead arrangers was led by partner Stuart Downing and associates Marc Shepsman, Bruna M. Amaral, Shanan Essick and Kayla Ghasemi.