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Phoenix Tower International Builds Momentum and Footprint across Europe to Support Wireless Network Growth and Introduction of 5G

Closes Agreement with Monaco Telecom to Own and Operate Tower Sites Across Malta and Cyprus

July 14, 2021

Phoenix Tower International (“Phoenix”) has closed its agreement with Monaco Telecom to purchase over 830 wireless towers and acquire newly constructed wireless towers over six years across Malta and Cyprus through a build-to-suit (BTS) program. Phoenix is now the largest tower infrastructure provider in both countries and the long-term partnership established with Monaco Telecom through this deal will see the operator occupy the sites for at least twenty years.

In Malta and Cyprus, Phoenix will operate the neutral host independent tower model to facilitate increased coverage expansion for all wireless operators and ultimately increased connectivity for the populations of both countries.

Phoenix also expanded its European footprint in Ireland and France through further tower acquisitions that closed in the last month and are now being integrated into the established operations in each country. This brings the total added, year to date, to 274 sites.

With these latest transactions, Phoenix owns and operates 4,285 wireless infrastructure tower sites across Europe in Ireland, France, Italy, Malta, and Cyprus, making it one of the largest owners of wireless towers across the region.

“We have grown our presence in Europe rapidly and have established operations in five countries in less than two years. It is a testament to the speed and flexibility with which we can approach acquisition and partnership agreements and set up local operations that will ultimately improve wireless coverage and connectivity for citizens across nations,” commented Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.

“The global telecommunications industry is expanding,” added Kasavana. “Phoenix Tower International is well-positioned operationally and financially to support and accelerate this growth and we’re poised to see the continued ongoing expansion of our business across all markets in the coming months and years ahead.”

About Phoenix Tower International

Phoenix Tower International (“Phoenix”) owns and operates over 13,500 towers, 986 km of fiber, and over 80,000 other wireless infrastructure and related sites in 18 countries throughout Europe, the United States, Latin America, and the Caribbean.

Phoenix was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. Phoenix’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com

Phoenix Tower International Closes Multi-Jurisdiction HoldCo Financing Facility with CDPQ and AMP Capital to Support Further International Growth

May 14, 2021

Phoenix Tower International (PTI), a leading wireless communications infrastructure provider, today announced it has closed a HoldCo financing facility to continue its international expansion. The transaction consists of three tranches at close that may be further increased through an accordion feature up to a total of EUR 775 million (approx. USD 940 million) to fund future growth. Caisse de dépôt et placement du Québec (CDPQ), a global investment group, and AMP Capital, a global investment manager, provided the financing.

The multi-jurisdiction facility is a landmark transaction underpinning PTI’s continued focus on being a leading global provider of infrastructure assets. The facility will be used to fund PTI’s recent growth in Europe and provides substantial additional capacity to support further growth in both existing and new markets worldwide.

“This financing provides PTI with the flexibility to continue to grow our business across all markets with incremental financing available at our disposal, and will allow us to deliver for our customers, counterparties and business partners in an expedited manner with a strong lender group. CDPQ and AMP Capital’s financing will support PTI as we continue to construct and invest in digital infrastructure across all markets and lead the necessary 4G and 5G build-outs on behalf of our customers and the populations we serve around the world,” said Dagan Kasavana, Chief Executive Officer of PTI.

“PTI’s focus on offering value-add infrastructure solutions to our carrier customers is representative of Blackstone’s thematic focus on digital infrastructure and wireless connectivity. We are proud to partner with CDPQ, a long-term partner to Blackstone, and AMP Capital to support our expansion across the US, Europe, and other growth markets ” said Thomas Senecal of Blackstone Tactical Opportunities.

“This financing in PTI builds on our previous experience to contribute to the expansion of digital infrastructure globally, alongside recognized industry leaders in this fast-growing sector,” said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. “By providing a customized and flexible financing solution to PTI, CDPQ is supporting a high-quality operator well positioned to seize opportunities in attractive markets that are experiencing a rising demand for connectivity.”

“PTI is one of the leading global owners and operators of tower infrastructure, and AMP Capital is pleased to have collaborated with PTI and CDPQ to implement a highly bespoke financing to support their growth ambitions,” said Patrick Trears, Global Head of Infrastructure Debt at AMP Capital. “With the demand for telecommunication infrastructure set to continue to increase, we believe that PTI is well-placed to assist in meeting this demand and capitalize on associated growth opportunities across their markets. Telecommunications infrastructure remains a key sector for our infrastructure debt strategy, and with this transaction we are pleased to have added another high-quality investment for our investors around the world.”

PTI was represented by Locke Lord. CDPQ and AMP Capital were represented by Norton Rose Fulbright. Terms of the transaction remain confidential between the parties.

About PTI

PTI owns and operates over 12,500 towers, 986 km of fiber and markets over 80,000 other wireless infrastructure and related sites located in 16 countries throughout Europe, the United States, Latin America and the Caribbean.

PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. PTI’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com and follow us on LinkedIn.

About CDPQ

At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2020, CDPQ’s net assets total CAD 365.5 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.

About AMP Capital

AMP Capital is a global investment manager with a heritage and strength in real estate and infrastructure, and experience in fixed income, equities and multi-asset solutions. AMP Capital has been investing in infrastructure since 1988 and has US$22bn infrastructure equity and debt assets under management as at 31 December 2020 1. AMP Capital has been ranked in the top 10 infrastructure managers globally, based on total capital raised 2. AMP Capital is owned by AMP Limited, which was established in 1849, and is one of Australia’s largest retail and corporate pension providers.
 

1
As at 31 December 2020.  Figure consists of the Net Asset Value of certain funds and clients managed by AMP Capital taking into account all of the assets less any liabilities.  This includes cash and liquidity of such funds in addition to any committed but undrawn capital.

2 Derived from the 2020 Infrastructure Investor 50. Ranking based on the amount of infrastructure direct investment capital raised by firms between 1 Jan 2015 and 31 Aug 2020

Blackstone-Backed Phoenix Tower International Signs Agreement with eir to Own and Operate Tower Sites Across Ireland

May 25, 2020

BOCA RATON, Florida & DUBLIN, Ireland –Phoenix Tower International (“Phoenix”) today announced the signing of an agreement with eir to purchase over 650 wireless towers and acquire newly constructed wireless towers over 8 years across Ireland through a build-to-suit programme. This transaction positions Phoenix as the largest tower infrastructure provider in Ireland, materially expands its growing footprint in Europe, and further solidifies the company’s leadership position in Europe, the United States, Latin America and the Caribbean. Closing is subject to customary conditions precedents for this type of transaction. Phoenix and eir have established a long-term partnership whereby eir will occupy the sites for at least twenty years.

“We are excited to enter the Irish wireless infrastructure market and partner with eir on such an important transaction. The global pandemic related to COVID-19 has impacted all of our communities and highlights the importance of wireless infrastructure to support global trade, commerce and social connections. This will not diminish as economies rebound in the coming months and years ahead,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.

“Ireland represents an important economic hub for Europe and the world, and we are proud to support eir on their ongoing build-outs across the country. This transaction further expands PTI’s global footprint and we are excited to be a long-term partner of eir” said Tim Culver, Executive Chairman of Phoenix Tower International.

“We are excited to partner with eir to deliver improved wireless connectivity to its customers. This transaction exemplifies Phoenix’s strategy of entering into growth markets as a partner to top-tier wireless carriers” said Jasvinder Khaira, a Senior Managing Director in Blackstone Tactical Opportunities. “Phoenix is committed to growing in Europe and finding opportunities to support carriers and usher in the 5G technology revolution.”

About Phoenix Tower International

Phoenix Tower International (“Phoenix”) owns, operates and proforma for this transaction will have in excess of 9,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites throughout the United States, Argentina, Bolivia, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, France, Guatemala, Ireland, Jamaica, Mexico, Panama, and Peru.

Phoenix was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. Phoenix’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.

Freshfields Bruckhaus Deringer and Arthur Cox acted as legal advisors to PTI.

About eir

eir is the largest provider of fixed line telecommunications services in Ireland, offering broadband, voice, TV, and data services to residential, small business, enterprise, and government segments.

eir is the third largest mobile operator in Ireland in terms of revenue and customers. The company operates the eir mobile and GoMo services.

eir’s wholesale division, open eir, is the largest wholesale telecommunications operator in Ireland, providing products and services to national and international wholesale customers across a range of regulated and unregulated markets.

The Group generated total revenue of €1.249 billion and adjusted EBITDA of €578 million for the year ended 30 June 2019.

Blackstone-Backed Phoenix Tower International Closes Agreement with Bouygues Telecom to Own and Operate up to 4,000 Sites Across France

March 20, 2020 BOCA RATON, Florida / PARIS, France – Blackstone portfolio company Phoenix Tower International (“Phoenix”) today announced the closing of an agreement with Bouygues Telecom to develop approximately 4,000 newly constructed wireless towers over 12 years across France outside the Very Dense Area. This transaction significantly expands Phoenix’s footprint in France, and solidifies the company’s leadership position in Europe, the United States, Latin America and the Caribbean. Phoenix and Bouygues Telecom have established a long-term partnership in the form of a Phoenix-controlled joint venture which will own and operate the sites. Some of the sites will be deployed as part of Bouygues Telecom’s “New Deal Mobile” regulatory obligations of targeted mobile radio coverage improvements, accelerated mobile radio rollouts alongside transportation routes. With attractive size and coverage, the JV is very well positioned as an infrastructure operator of choice in the market. “We are quite enthusiastic to partner with Bouygues Telecom on such an important and exciting project.  We believe the French market is well positioned for significant wireless growth throughout the country as further 4G and 5G deployments are made over the coming years and we are proud of our participation in these deployments,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. “Phoenix’s landmark partnership with Bouygues Telecom is consistent with its position as the preferred partner for carriers worldwide,” said Jasvinder Khaira, a Senior Managing Director in Blackstone Tactical Opportunities. “Phoenix will continue to look for creative ways to support the coverage requirements of carriers and usher in the 5G technology revolution across Europe and the Americas.” Jean Paul Arzel, Head of Network Division, explained: “This agreement allows Bouygues Telecom to sustain its efforts in sites deployment in Less Dense Areas and also to meet the New Deal requirements. It will also contribute to considerably strengthen our Mobile network coverage in rural areas. Natixis and ING acted as financial advisors to Phoenix.

About Phoenix Tower International

Phoenix Tower International (“Phoenix”) owns and manages over 8,000 towers, 986 km of fiber and over 80,000 other wireless infrastructure and related sites throughout the United States, including Puerto Rico and the US Virgin Islands, Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, France, Jamaica, Argentina, Ecuador, and Bolivia. Phoenix was founded in 2013 with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. Phoenix’s investors include funds managed by Blackstone Tactical Opportunities and John Hancock, as well as various members of the management team. For more information, please visit www.phoenixintnl.com.

Phoenix Tower International acquires 197 wireless communication tower sites located throughout the United States from Tower Ventures

March 5, 2020

Phoenix Tower International (“PTI”) announces that it has closed the transaction through the acquisition of a 100% ownership interest in Tower Ventures Holdings, LLC and related entities.  The transaction provides PTI ownership and control over high quality wireless telecommunications infrastructure assets strategically located along the Atlantic seaboard, South, and Midwestern regions of the United States.  The ownership of these 197 wireless communication towers further solidifies PTI’s position as the premiere private tower company in the Americas.  Terms of the transaction remain confidential between the parties.

“PTI is excited to invest further in the United States and continue to grow its tower portfolio in advance of significant 5G deployments and ongoing 4G densification across the country,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued, “The Tower Ventures team has a great reputation and has constructed and operated high quality sites that we believe will see continued growth through lease-up and provide the wireless operators more best in class locations to achieve their network coverage needs alongside our existing towers and growing DAS and small cell business.  We are proud we have completed this transaction with Tower Ventures and look forward to working with them across the United States in the future.”

Commenting on the transaction, Tower Ventures President and CEO, William Orgel, said; “Dagan and the wonderful team he has built in the past seven years were an absolute pleasure to work with on this transaction. They are professional, intelligent and have immense knowledge of the tower industry. Tower Ventures looks forward to a continued relationship with PTI as we move forward in developing more towers and managing our remaining portfolio of owned and managed sites.”

About Phoenix Tower International

PTI owns and operates over 8,500 towers, 986 kilometers of fiber, and other wireless infrastructure and related sites across 14 countries in North, Central and South America and Europe.  PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across high-growth international markets.  PTI’s investors include funds managed by Blackstone, John Hancock, and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com.

About Tower Ventures

Tower Ventures is a Memphis, Tennessee based cell phone tower operator that owns and manages 360 towers in the United States. Tower Ventures and its subsidiaries have developed towers since 1987 and over that time have successfully built and sold tower portfolios valued at over $600 million dollars. Tower Ventures is owned by its management team with an investment from BBH Capital Partners, a private equity strategy of Brown Brothers Harriman & Co.

Contact Phoenix Tower International:

Ingrid Gutierrez
(561) 923-0536 
igutierrez@phoenixintnl.com

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