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By April 21, 2017
Phoenix Tower International ("PTI") announces the closing of a long term Latin American credit facility between its subsidiaries in Dominican Republic, Costa Rica, Panama, El Salvador, Colombia and Peru and a consortium of lenders led by Scotiabank and joined by Banco General, S.A., ING Capital LLC, Popular Bank Ltd. Inc., Towerbank International Inc. and Metrobank, S.A. The credit facility provides financing on PTI's existing wireless infrastructure, new tower development and acquisitions across PTI's existing six (6) Latin America markets as well as many additional Latin America markets.
"The closing of this credit facility with Scotiabank provides PTI significant growth capital to continue to grow its business across Latin America. Scotiabank is a market leader in tower financing in Latin America and we are excited to close this ground breaking facility with a fantastic bank group representing many banks that have partnered with PTI historically over the years as we continue our expansion across the region," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
PTI was represented by Lockelord, Nassar Abogados and Alemán, Cordero, Galindo & Lee (Alcogal). Scotiabank was represented by White & Case, Zurcher, Odio & Raven and Arias, Fábrega & Fábrega (ARIFA). Terms of the transaction remain confidential between the parties.
About Phoenix Tower International
Phoenix Tower International ("PTI") owns and operates over 1,400 towers and other wireless infrastructure and related sites throughout Latin America, the Caribbean and the United States. PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas high-growth markets. Phoenix Tower International currently owns and operates wireless infrastructure in Costa Rica, Panama, El Salvador, the Dominican Republic, Colombia, Peru and the United States including Puerto Rico. PTI's investors include funds managed by Blackstone Tactical Opportunities as well as various members of the management team, and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com.