#USA #Boca Raton #Wireless Infrastructure #Financing Agreement #Phoenix Tower Int

Phoenix Tower International Secures New Multi-Jurisdiction Financing

Phoenix Tower International (PTI), a leading global provider of wireless communication infrastructure, recently announced the completion of a groundbreaking financing deal worth $6.5 billion. This strategic agreement aims to consolidate existing loans and provide substantial additional capacity essential for PTI's ongoing expansion in both established and emerging markets worldwide.

This financing deal encompasses several components: approximately $5.365 billion in term loans, $635 million in deferred draw term loans, and a revolving credit line amounting to $500 million. It spans across PTI's activities in 23 jurisdictions including Europe, Latin America, the Caribbean, and the United States. The funds will primarily be utilized for three main purposes:
1. To pay off existing debt, along with related fees and expenses;
2. To finance investment and acquisition needs;
3. To support working capital requirements.

The transaction is anticipated to close by the end of September, marking a significant milestone for PTI. Dagan Kasavana, PTI’s CEO, expressed enthusiasm about this development, highlighting how this multi-jurisdictional financing equips PTI with the necessary capital structure and flexibility to continue investing in infrastructure that connects communities globally. He noted, “The strong interest from lenders reflects the discipline and vision that have driven our growth over more than a decade, as we've expanded our wireless infrastructure platform.”

Adding to this, he pointed out that the current network architecture is likely to face considerable pressure due to rising AI traffic and the continuous growth in data consumption. “This funding allows us to continue providing services to our clients worldwide, helping them achieve their objectives in collaboration with PTI,” Kasavana stated.

Michael Bremer, PTI's Chief Financial Officer, also expressed his satisfaction with the completion of the $6.5 billion financing, describing it as the largest of its kind for a private telecommunications tower company in their sector. He emphasized that this transaction reflects the trust that lender partners place in PTI and the robustness of their management team across the 23 jurisdictions they operate in. Additionally, it will facilitate a simplification of their capital structure, reduce borrowing costs, and enable access to further capital to accelerate future growth.

About Phoenix Tower International

Phoenix Tower International is an independent global telecommunications tower company headquartered in Boca Raton, Florida. The organization operates over 33,000 mobile network locations across 23 countries. As a neutral infrastructure provider, PTI offers open access to all mobile network operators, ensuring comprehensive service coverage and technological advancement across regions.

Overall, PTI's latest financing agreement not only underscores their leadership position in the industry but also sets the stage for sustained growth and innovation in wireless communication infrastructure globally. As they navigate an increasingly data-driven future, this strategic move is crucial for addressing the evolving needs of communication and connectivity.