BOCA RATON, Florida, Oct. 1, 2018 /PRNewswire-HISPANIC PR WIRE/ — Phoenix Tower International (PTI), a leading wireless communications infrastructure provider, announces it has closed a US$485mn senior secured term loan facility to continue its international expansion.
PTI successfully upsized and extended its existing credit facility and strengthened the composition of its syndicate group highlighting the company’s continuing success. The transaction consists of US$290mn senior secured 5-year term loan and US$195mn delayed draw which will allow PTI to continue expanding internationally.
The credit facility was led by Scotiabank, with Goldman Sachs, Deutsche Bank, Santander, ING Capital, Natixis, Banco General, Orix Capital, and Towerbank participating and is the first Pan-Latin America facility of its kind secured by infrastructure assets. The credit facility provides financing on PTI’s existing wireless infrastructure, new tower development and acquisitions across PTI’s existing Latin America markets as well as many additional Latin America markets including Belize, Chile, Costa Rica Colombia, Dominican Republic, El Salvador, the French West Indies, Guatemala, Guyana, Honduras, Jamaica, Mexico, Panama, Peru, Suriname, Uruguay, Argentina, Bolivia, Ecuador, Nicaragua and Paraguay.
“With this financing, PTI has full flexibility to continue to grow the business across Latin America with available debt financing at our disposal. This will allow us to deliver for our customers, sellers and business partners in an expedited manner with a syndicated lender group comprised of long term relationships that PTI has had since inception as well as new relationships that will help PTI take the business to the next level in the years to come. We are incredibly excited to close this loan with Scotiabank and the entire lender group,” said Dagan Kasavana, Chief Executive Officer of PTI.
PTI was represented by Locke Lord. Scotiabank and the Lender Group were represented by White & Case. Terms of the transaction remain confidential between the parties.
About Phoenix Tower International:
Founded in 2013, Phoenix Tower International (“PTI”) owns and manages over 6,000 towers, 974 km of fiber and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands.
PTI’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.
SOURCE Phoenix Tower International