May 11, 2015
PHOENIX TOWER INTERNATIONAL CLOSES $32.15M LOAN FACILITY WITH BANCO GENERAL AND OTHER LENDERS TO FINANCE WIRELESS INFRASTRUCTURE ACROSS COSTA RICA AND PANAMA
Phoenix Tower International (“PTI”) announces the closing of a seven (7) year credit facility between its local subsidiaries in Costa Rica and Panama and a consortium of lenders led by Banco General, S.A. joined by Towerbank, Metrobank and Banco General (Costa Rica). The credit facility provides debt financing on PTI’s existing wireless infrastructure as well as additional financing for new tower development and acquisitions of wireless infrastructure in Costa Rica and Panama.
“The closing of this credit facility with Banco General, enhances PTI’s ongoing commitment to its customers in Costa Rica and Panama. Banco General is a market leader in tower financing in Central America and we are excited to work with them in our continued growth across the region” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
“Banco General is very pleased to have had the opportunity to work with PTI and its management in this financing transaction. We see significant growth opportunities in the sector and in the region and we look forward to continue supporting the company as it embarks into its next phase of growth” stated Stavros Tsokonas, Assistant Vice President at Banco General. PTI was represented by Greenberg Traurig, Nassar Abogados and Alemán, Cordero, Galindo & Lee (Alcogal). Banco General was represented by Milbank, 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 towers and other wireless infrastructure and related sites throughout Latin America and the United States. PTI’s customers include América Móvil, Telefonica, Cable & Wireless Communications, AT&T, T-Mobile, Sprint-Nextel, Verizon and Digicel Group. PTI was founded in 2013 with a mission to partner and transact with wireless infrastructure developers, wireless operators and real estate owners and to be a premier site provider to wireless operators across various high-growth markets internationally. PTI is currently operating in Costa Rica, Panama, Colombia, the United States and Brazil. PTI’s investors include funds managed by Blackstone Tactical Opportunities, as well as various members of the management team. PTI is based in Boca Raton, Florida.
