The Firm represented special-purpose subsidiaries of Zayo Group, LLC (“Zayo”) in connection with three offerings of Secured Fiber Network Revenue Notes, with an aggregate principal amount of $3,792.9 million.
The first offering involved the issuance of $1,418.3 million aggregate principal amount of Series 2025-1 Secured Fiber Network Revenue Notes, consisting of $1,022.5 million aggregate principal amount of Series 2025-1 Class A-2 Secured Fiber Network Revenue Notes, $164.9 million aggregate principal amount of Series 2025-1 Class B Secured Fiber Network Revenue Notes and $230.9 million aggregate principal amount of Series 2025-1 Class C Secured Fiber Network Revenue Notes. The offering closed on February 14, 2025.
The second offering involved the issuance of $1,528.4 million aggregate principal amount of Series 2025-2 Secured Fiber Network Revenue Notes, consisting of $1,101.9 million aggregate principal amount of Series 2025-2 Class A-2 Secured Fiber Network Revenue Notes, $177.7 million aggregate principal amount of Series 2025-2 Class B Secured Fiber Network Revenue Notes and $248.8 million aggregate principal amount of Series 2025-2 Class C Secured Fiber Network Revenue Notes. The offering closed on May 15, 2025.
The third offering involved the issuance of $846.2 million aggregate principal amount of Series 2025-3 Secured Fiber Network Revenue Notes, consisting of $610 million aggregate principal amount of Series 2025-3 Class A-2 Secured Fiber Network Revenue Notes, $98.4 million aggregate principal amount of Series 2025-3 Class B Secured Fiber Network Revenue Notes and $137.8 million aggregate principal amount of Series 2025-3 Class C Secured Fiber Network Revenue Notes. The offering closed on October 3, 2025.
Zayo is a leading owner, developer and operator of dark and lit fiber infrastructure and transport services, including long-haul and metro dark fiber, wavelengths, private networks and mobile infrastructure such as fiber-to-the-tower to wireless carriers, wireline carriers and large enterprises and lit fiber network connectivity services, including dedicated internet access, Ethernet, IP transit and private cloud connectivity to enterprise customers in the United States pursuant to customer agreements.
The Simpson Thacher team included John Schueller, Kate Draper, Ben Carson, Diana Yen, Leandra Kede Yomo, and Sebastian Edin (Securitization); Jon Pall (Collateral); Hui Lin, Adriana Estor and Kiley Short (Capital Markets); Brian Steinhardt, Catherine Burns, Callie Robins and Aaron Gurley (Credit); Jon Cantor, Kris Liu and Benjamin Bressler (Tax); J. Pasco Struhs (ECEB); Jeanne Annarumma and Alexander Kharash (ERISA) and Ryan Stalnaker (Sanctions).