In a transaction that closed on August 8, 2023, Milbank LLP represented the initial purchasers in a $1.585 billion securitization of fiber network revenues for Frontier Communications Parent, Inc. In connection with the offering, the issuer also entered into a commitment for a $500 million variable funding note facility subject to certain conditions.
The Milbank deal team was led by New York-based Alternative Investments partners Katie Weiss and Michael Urschel and included London-based Alternative Investments partner James Warbey along with Capital Markets partner Brett Nadritch, Executive Compensation and Employee Benefits partner Joel Krasnow, Tax partners Eschi Rahimi-Laridjani and Andrew Walker, Global Risk & National Security partner Bijan Ganji, special counsels Bert Eidson, Miranda Stupart, Craig Cohen and Lafayette Greenfield and associates Jeff Zhou, Shuang Wu, Charlene Yin, Shermarkeh Hussein, Janelle Vacchiano, Amanda Borges, Peter West and others.
The transaction is secured by a portfolio of fiber assets in the Dallas metropolitan area and follows a number of digital infrastructure securitization transactions closed by the Milbank team in 2023.
