CyrusOne’s $1.2 Billion Debt Tender Offer and Consent Solicitation

Cravath represented CyrusOne LP and CyrusOne Finance Corp. in connection with their $1.2 billion debt tender offer and consent solicitation.

CyrusOne Inc. (NASDAQ: CONE) announced the tender offers to purchase for cash by CyrusOne LP and CyrusOne Finance Corp. any and all of their outstanding 5.000% Senior Notes due 2024 and 5.375% Senior Notes due 2027.

In conjunction with the Tender Offers, the Issuers have also solicited consents (the “Consent Solicitations”) to amend the applicable indenture governing each series of Notes to reduce the notice requirements for optional redemption from 30 days to 3 business days, to eliminate substantially all of the restrictive covenants and certain events of default and to eliminate or modify certain other provisions contained in each indenture. The transaction closed on December 5, 2019.

CyrusOne LP and CyrusOne Finance Corp. are subsidiaries of CyrusOne Inc., a REIT that owns, operates and develops enterprise-class, carrier-neutral data center properties.

The Cravath team included partners William V. Fogg (Picture) and Michael E. Mariani and associates Sarah K. Johnson, Alexander Lee Abelson and Megan M. Ji on securities matters and partner Christopher K. Fargo on tax matters. Kevin L. Cheng also worked on securities matters.

Involved fees earner: Alexander Lee Abelson – Cravath Swaine & Moore; Christopher K. Fargo – Cravath Swaine & Moore; William Fogg – Cravath Swaine & Moore; Megan Ji – Cravath Swaine & Moore; Sarah Johnson – Cravath Swaine & Moore; Michael Mariani – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: CyrusOne Inc.;

Author: Ambrogio Visconti