#United States #Private Placement #Wireless Infrastructure #Charlotte, NC #Harmoni Towers

Harmoni Towers Achieves Landmark Financing

Harmoni Towers, recognized as a leading owner and operator of wireless communication infrastructure in the United States, has successfully completed a groundbreaking private placement financing deal worth $620 million. This historic transaction is notable not only for its size but for setting a record in the U.S. as the largest cell tower bond issuance to date.

Oversubscription and Market Confidence

The financing attracted substantial interest, as it was oversubscribed approximately three times, highlighting strong investor confidence in Harmoni's business model and future growth prospects. The bonds are supported by a robust portfolio of over 1,700 macro tower sites, all of which are secured through master lease agreements with major U.S. wireless carriers, ensuring a reliable income stream.

Harmoni Towers' CEO, Yannis Macheras, expressed pride in achieving this financing, marking it as a significant milestone in the company's growth strategy. He stated, "The strong demand and oversubscription reflect the market's confidence in our operations and leadership team." This confidence is crucial as the company aims to continue expanding its high-quality digital infrastructure across the nation.

Financial Flexibility for Future Growth

Harmoni Towers' CFO, Jack Barry, emphasized that this financing provides the necessary financial flexibility to support ongoing collaborations with carrier partners for new build-to-suit projects. The ability to invest in expansion is crucial in an era where connectivity and communication infrastructure are more critical than ever.

Support from Palistar Capital

Omar Jaffrey, the Founder and Managing Partner of Palistar Capital, the parent company of Harmoni, reiterated the importance of this financing. He remarked, "This landmark deal positions Harmoni as a premier independent tower company, equipped with the scale and balance sheet to meet the growing connectivity needs of the U.S. wireless ecosystem."

This sentiment was echoed by Joshua Oboler, an Investment Partner at Palistar, who acknowledged the hard work and support from Harmoni's carrier, banking, and lending partners, contributing to this achievement.

The Road Ahead

Harmoni Towers is widely recognized for its activity in tower construction, with over 2,000 sites either built or in development. This recent funding will further enhance its ability to meet the needs of wireless operators and strengthen its footprint in a rapidly evolving industry.

Through its strategic focus on acquiring and constructing critical communication infrastructure, Harmoni continues to play a pivotal role in enhancing the digital landscape of the United States. Investors are looking forward to the outcomes of this financing and how it will shape the future of wireless communication infrastructure.

Conclusion

Overall, Harmoni Towers' successful completion of its $620 million private placement financing marks a crucial step in the company's ambitious plans for growth amidst an increasing demand for wireless communication services. As technology evolves and connectivity becomes an integral part of daily life, companies like Harmoni are positioned to thrive in this dynamic environment. For more information on Harmoni Towers and its initiatives, you can visit their website.

This achievement not only signals Harmoni's robust market position but also showcases the trust and confidence of financial institutions in the company's future endeavors.