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Meta and Blue Owl strike US$2.3bn equity JV for Hyperion campus
For the US$2.3bn equity investment which forms part of the total US$29.5bn financing package for Meta and Blue Owl’s 5GW Hyperion data center campus.
Financial Advisors: Morgan Stanley (Meta)
Legal Advisors: Latham & Watkins (Meta); Eversheds Sutherland (Meta); Kirkland & Ellis (Blue Owl)
Meta and Blue Owl structure US$27.3bn Project Beignet JV financing
The US$27.3bn structured joint venture between Meta Platforms and funds managed by Blue Owl Capital to develop the Hyperion AI data center campus in Richland Parish, Louisiana, a 2.1GW campus spanning 2,700 acres.
Lenders: PIMCO
Financial Advisors: Morgan Stanley (Exclusive Financial Advisor to Meta, Sole Bookrunner)
Crown Castle’s US$4.25bn fiber unit sale to Zayo
For Crown Castle’s US$4.25bn sale of its fiber solutions business to Zayo.
Financial Advisors: Morgan Stanley, Bank of America (Sell Side); PJT Partners, JPMorgan, UBS (Buy Side)
Legal Advisors: Paul, Weiss, Rifkind, Wharton & Garrison (Sell Side); Simpson Thacher & Bartlett (Buy Side)
Zayo secures US$4.1bn ABS financing for Crown Castle fiber buy
For the US$4.1bn financing supporting Zayo’s acquisition of Crown Castle’s Fiber Solutions business, comprising a US$3.2bn senior ABS warehouse facility and a US$900m junior warehouse facility (c.91% loan-to-value).
Banks and Lenders: Morgan Stanley (Administrative Agent); Citi (Collateral Agent and Verification Agent); Morgan Stanley, Deutsche Bank, JPMorgan, TD Securities, RBC, Barclays, Goldman Sachs, ING, Natixis, Citi, UBS, Citizens (Joint Lead Arrangers and Joint Bookrunners)
Legal Advisors: Simpson Thacher (Zayo/DigitalBridge); King & Spalding (Crown Castle)
EQT acquires Crown Castle small cells in US$4.25bn carve-out
For the c.US$4.25bn sale of Crown Castle’s small cells business to EQT’s Active Core Infrastructure fund.
Financial Advisors: Morgan Stanley, Bank of America (Sell Side); TD Securities (Buy Side)
Legal Advisors: Paul, Weiss, Rifkind, Wharton & Garrison (Sell Side); Kirkland & Ellis (Buy Side)
Bluebird Fiber wins US$384.6m Everstream auction
Sale through an in-person auction of Everstream, resulting in Bluebird Fiber acquiring substantially all of the company’s assets and operations for US$384.6m.
Financial Advisors: Bank Street (Sell Side M&A); PJT Partners (Sell Side IB); Alvarez & Marsal (Sell Side restructuring); TD Securities (Buy Side)
Legal Advisors: Weil, Gotshal & Manges (Sell Side); Richards, Layton & Finger (Sell Side Special Counsel); Kirkland & Ellis (Buy Side)
I Squared Capital takes majority stake in Brazil’s Elea Data Centers
The acquisition by I Squared Capital of a majority stake in Elea Data Centers.
Financial Advisors: Banco Bradesco BBI, UBS BB Serviços de Assessoria Financeira e Participações, BTG Pactual (Sell Side)
Legal Advisors: Davis Polk & Wardwell, Pinheiro Neto Advogados (Sell Side); Simpson Thacher & Bartlett, Mattos Filho (Buy Side)