Communications Sales draws $150 million under revolver to fund merger

By Marisa Wong

Morgantown, W.Va., Sept. 2 – Communications Sales & Leasing, Inc. borrowed about $150 million under its $500 million revolving credit facility to help fund its acquisition of Tower Cloud, Inc., according to an 8-K filing with the Securities and Exchange Commission.

The transaction, also funded with cash on hand, closed on Aug. 31.

Following the drawdown, the company has roughly $258 million of undrawn borrowing capacity under the revolver.

Communications Sales is a Little Rock, Ark.-based real estate investment trust. Tower Cloud is a provider of data transport services.

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