News & Events

Simpson Thacher is representing Barclays Capital and Bank of America Merrill Lynch in connection with a senior unsecured bridge facility of up to $2.0 billion for CenturyLink, Inc., the proceeds of which will be used to fund a portion of CenturyLink’s $2.5 billion acquisition of Savvis, Inc. as well as to refinance Savvis’ current debt.  The transaction is expected to close in the second half of 2011.  

CenturyLink is the third largest telecommunications company in the United States. The company provides broadband, voice and wireless services to consumers and businesses across the country. It also offers advanced entertainment services under the CenturyLink(TM) Prism(TM) TV and DIRECTV brands. In addition, the company provides data, voice and managed services to business, government and wholesale customers in local, national and select international markets through its high-quality advanced fiber optic network and multiple data centers. CenturyLink is recognized as a leader in the network services market by key technology industry analyst firms.

Savvis is a global leader in cloud infrastructure and hosted IT solutions for enterprises. Nearly 2,500 unique clients, including 32 of the top 100 companies in the Fortune 500, use Savvis to reduce capital expense, improve service levels and harness the latest advances in cloud computing.  

The Simpson Thacher team includes Patrick Ryan and Seth Niedermayer (Banking and Credit), Ken Wallach and Allison Wilson (Capital Markets), and Ed Chung (M&A).