Husch Blackwell yesterday announced its participation in serving as bond and borrower’s counsel to Bug Tussel 1, LLC, a subsidiary of firm client Hilbert Communications, LLC, in a $70 million municipal bond issuance, which closed December 16. The bond will fund the construction of broadband infrastructure in five rural Wisconsin counties – Calumet, Fond du Lac, Jackson, Waushara, and Marathon.
Proceeds from the sale of the bonds will fund the deployment of several hundred miles of new fiber optic cable and the construction of over 50 communications towers. Once completed, Bug Tussel’s project will enhance accessibility to, and the performance of, high-speed internet and wireless communications services for residents, businesses, and local government agencies located in the participating counties.
This issuance to fund broadband infrastructure in unserved and underserved markets is one of the largest public-private partnership offerings of its kind in the United States. Fond du Lac County served as the issuing county; UBS Financial Services served as the lead underwriter; and Robert W. Baird & Co. participated as co-underwriter.
Headquartered in Green Bay, WI, Hilbert Communications, LLC is a diversified telecommunications holding company. Its subsidiaries operate wireless networks for retail and wholesale carrier customers, and develop, construct and manage telecommunications towers and fiber assets in several midwestern states.