AT&T secures $850 million from sale-leaseback of real estate to Reign Capital

The U.S. telecom major is planning to exit a majority of its copper network operations by 2029 as customers shift to newer technologies such as fiber optics and wireless networks, which offer superior speed and reliability and require a smaller space to operate. Sale-leaseback is a financing option in which a company sells part of its assets to raise capital and leases back the same property to run its operations. AT&T will lease back only the space required for its network operations.