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Cases & Deals

November 8, 2016

King & Spalding Advises on Another Telecom Securitization Transaction

NEW YORK, Nov. 7, 2016 — King & Spalding represented InSite Wireless Group, LLC in the issuance by certain of its subsidiaries of $301.5 million aggregate principal amount of Secured Cellular Site Revenue Notes, Series 2016-1, backed by the revenues generated by certain wireless communications towers, distributed antenna systems and other real property interests leased to companies in the wireless communications industry in the United States and Canada, in a transaction that closed on November 1, 2016.

This transaction is the latest in a number of telecom securitization transactions for King & Spalding. Earlier this year, in a transaction that closed on June 16, 2016, the firm represented a major international investment bank as the initial purchaser in a $116 million securitization of telecom-related ground lease and other real property assets of subsidiaries of Landmark Infrastructure Partners LP.

In both transactions, King & Spalding's finance teams and real estate teams worked closely together to both structure the securitization transactions and to mortgage the many real property interests that comprised the collateral for the transactions.

The King & Spalding team in the InSite transaction was led by finance partner Michael Urschel and included counsel Anthony Mechcatie, associates Tad Bardenwerper and Eugene Pevzner and staff attorney Bert Eidson, and also included partner Chris Molen (finance), partner Carrie Ratliff (corporate), partners John Taylor, Wayne Pressgrove and Hap Shashy and associate John Green (tax), partner Arthur Steinberg and associate Michael Handler (financial restructuring), and partner Ken Raskin and associate Emily Meyer (ERISA). The real estate team was led by partner Sheryl Kass, and included counsel Taryn Reynolds, associates Carly Freliche, Adam Ney and Joe Quinn and staff attorney Robert Grue.