April 10 (Reuters) - Uniti Group Inc - * To acquire Southern Light * Deal for approximately $700 million in cash and equity * Expects to achieve annual run-rate cost savings related to acquisition of southern light of $10 million within 24 months after closing * Deal consideration consists of $635 million in cash and issuance of approximately 2.5 million operating partnership units * Transaction is intended to be leverage neutral on a pro forma basis following expected permanent financing * Expects to fund transaction with cash on hand, proceeds from potential debt or equity financings, borrowings under revolving credit facility * Received committed financing from CitiGroup, JPMorgan Chase Bank, N.A. and RBC Capital Markets LLC for entire cash portion of purchase price * Expects to fund transaction with cash on hand, proceeds from potential debt or equity financings and borrowings under revolving credit facility Source text for Eikon: Further company coverage:
Real estate investment trust Uniti holdings has agreed to acquire privately - held Southern Light in a debt and equity deal worth $ 700 m . Uniti is expected to complete the deal with cash on hand , as well as with potential debt or equity financings and investments . equity Chase , NA , RBC Capital Markets and Citigroup secured committed financing . The deal is set to close in Q3 2017 .