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MCArmel1 PremiumMember
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Communications Sales & Leasing,Inc. (CSAL)

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Nasdaq: CSAL CSAL will begin trading April 27, 2015 CS&L (Nasdaq: CSAL), an S&P 400 Midcap Index company headquartered in Little Rock, Ark., is a publicly traded real estate investment trust primarily engaged in the acquisition and leasing of communication distribution systems. CS&L currently owns 64,000 route miles of fiber, 235,000 route miles of copper and central office land and buildings across 29 states which it leases to a single tenant. As a source of capital to the telecommunications industry, CS&L continually evaluates challenges and trends impacting the industry, and seeks opportunities to grow and diversify its portfolio by acquiring additional communication distribution systems to lease to telecommunications operators in triple-net lease arrangements. About Communications Sales & Leasing Inc. was created through the spin-off of certain telecommunications assets from Windstream Holdings Inc., including 64,000 route miles of fiber, 235,000 route miles of copper, central office land and buildings across 29 states. Windstream now operates those assets through a long-term, triple-net lease with CS&L. CS&L expects to pay a regular quarterly dividend of $0.60 per share. CS&L’s Strategy As a real estate investment trust (REIT), CS&L intends to grow and diversify its portfolio over time, primarily in three ways: 1.Acting as a capital investment funding vehicle for telecom providers. CS&L provides tax-efficient, low-cost capital. 2.Acquiring other REIT-able assets to add diversity and scale to the company’s portfolio. 3.Benefitting from rent escalations related to our existing tenant, which begin in year four of the lease. CS&L also has the option to fund capital investment and increase the value of the asset. CS&L’s Tenant CS&L’s initial tenant is Windstream, a FORTUNE 500 company that is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. Windstream also offers broadband, phone and digital TV services to consumers primarily in rural areas.
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