Phoenix Tower International Closes $200mn Loan Facility with Goldman Sachs to Finance Further Expansion
BOCA RATON, Fla., Dec. 28, 2018 /PRNewswire/ -- Phoenix Tower International (PTI) announces it has closed a US$200mn senior secured credit facility with Goldman Sachs Specialty Lending Group to continue its growth in the United States.
"This latest refinancing gives us a well-capitalized business plan to continue our growth in the United States with a strong lender group," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued, "We see various opportunities to expand in the United States through traditional macro tower construction and acquisitions as well as through small cell deployments to further help our customers grow their networks to meet consumer demands. This facility will allow us to accomplish both initiatives with dedicated financing in place."
The credit facility was led by Goldman Sachs Specialty Lending Group. The facility is a landmark transaction for PTI's continued focus on being a leading provider of infrastructure assets. The credit facility provides financing on PTI's existing wireless infrastructure, new tower development, and growth of its small cell business.
PTI was represented by Locke Lord. Goldman Sachs Specialty Lending Group was represented by King & Spalding. Terms of the transaction remain confidential between the parties.
About Phoenix Tower International
Phoenix Tower International ("PTI") owns and manages over 6,000 towers, 986 km of fiber and other wireless infrastructure and related sites throughout the United States, including Puerto Rico and the US Virgin Islands, Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, Argentina and Ecuador.
Headquartered in Boca Raton, Florida, PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. 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.
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SOURCE Phoenix Tower International
