#United States #Delray Beach #financing #Vertical Bridge #asset-backed

Vertical Bridge REIT Achieves Major Financing Milestone

In a significant announcement from Delray Beach, Florida, Vertical Bridge REIT, LLC, recognized as the largest private operator of communications infrastructure in the United States, has successfully completed a remarkable $595.1 million asset-backed securitization. This strategic financial maneuver is aimed at enhancing its portfolio and operational capabilities across the nation.

The newly raised capital, structured by Barclays, was secured against a geographically diverse collection of over 1,070 towers spread across 47 states. This marks the company’s tenth successful asset-backed securities (ABS) transaction since it began this funding strategy back in 2016.

Purpose and Utilization of Funds

The proceeds from this financing will be used primarily to repay existing Series 2020-2 and 2023-1 Notes, settle associated transaction fees, and fuel company growth initiatives, amplifying its infrastructure reach and service offerings. The proactive management and utilization of funds reflect Vertical Bridge's commitment to sustaining its growth in a competitive market.

Ron Bizick, President and CEO of Vertical Bridge, expressed his pride in the successful completion of another ABS deal, noting, "We’re proud to have completed another ABS transaction with strong support from key investors. This transaction affirms the resilience of our business model and the continued confidence investors have in our long-term strategy and asset quality." His remarks underscore the firm’s robust operational framework that inspires investor confidence and solidifies its position in the telecommunications sector.

Supporting this view, Tom Guard, Chief Financial Officer of Vertical Bridge, acknowledged Barclays' instrumental role in guiding the transaction to fruition, citing their long-standing relationships built on transparency and performance.

The issuance achieved an average blended all-in yield of 6.419% with an average tenor of approximately three years, showcasing a favorable financial environment for such capital raising efforts.

About Vertical Bridge

As the largest private owner and operator of communications infrastructure within the U.S., Vertical Bridge takes a leading role in meeting the demands of the wireless industry. The company boasts a broad portfolio of over 17,000 towers nationwide and is dedicated to providing build-to-suit and colocation solutions tailored for its clients.

Beyond mere profitability, Vertical Bridge has established itself as a pioneer in corporate sustainability within its sector. Notably, it became the first tower company globally to achieve CarbonNeutral® certification in 2020, a status that it has successfully maintained ever since, reflecting its commitment to reducing the environmental impact of its operations.

Conclusion

The completion of this substantial securitization transaction highlights Vertical Bridge's strategic approach to expanding its financial and operational capabilities in the telecommunications infrastructure domain. With continued investor confidence and a clear growth trajectory, Vertical Bridge is set to take on future challenges while maintaining a sustainable and responsible business model.

To learn more about Vertical Bridge and its initiatives, visit www.verticalbridge.com.