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IDB Invest finances Phoenix Tower International to boost the independent telecommunications infrastructure market in Bolivia

March 21, 2019

  • Phoenix Tower International (PTI) is the first independent operator of telecommunications towers in Bolivia.
  • The company will be a neutral host infrastructure provider to all wireless telecom providers which will facilitate increased coverage and mobile broadband capacity across Bolivia.

IDB Invest provided a loan of $58.5 million to Phoenix Tower International (PTI) to boost the independent telecommunications infrastructure market and promote a more efficient development of this sector in the country. The project is an innovative business solution for the Bolivian market as it encourages the shared use of telecommunications towers.

The financing will allow PTI to acquire 600 existing towers and build new towers at the request of the main mobile operators in the country. The shared use promoted by the project will improve the productivity of the service, since the deployment of new networks will be more affordable and dynamic. It will also help to reduce Bolivia’s connectivity gap, through the expansion of mobile broadband and the reduction of operator costs by implementing fourth-generation (4G) cellular technology.

The operation consists of a $58.5 million loan with a 10-year term. Under the leadership of IDB Invest, an additional $13.5 million has been mobilized from the Inter-American Corporation for Infrastructure Financing (CIFI) for Latin America and the Caribbean.

Mobile communication in Bolivia has a high growth potential to reduce the digital divide. The country’s mobile penetration is 87 percent, the third lowest in South America, while mobile broadband only reaches 65 percent penetration and the adoption rate of 4G is 24 percent according to data from 2017. Better connectivity directly and indirectly influences economic activity, facilitates the creation of employment, increases the productivity and has a positive impact on per capital growth.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 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, French West Indies, Jamaica, Argentina, Ecuador, and Bolivia.

Headquartered in Boca Raton, Florida, 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.

About IDB Invest

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses.

It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $12.1 billion under management and 329 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.

Contact Phoenix Tower International:

  Cat Drettmann
(561) 257-0557
cdrettmann@phoenixintnl.com
   

Phoenix Tower International expands footprint in South America with acquisition of 600 wireless communication tower sites from Trilogy in Bolivia

February 13, 2019

Phoenix Tower International (“PTI”) announces that it has closed its sale and leaseback transaction with Trilogy International Partners Inc. (“Trilogy”) to acquire the ownership and management rights relating to 600 wireless communication tower sites belonging to Trilogy’s Bolivian subsidiary, NuevaTel. This latest transaction expands PTI’s footprint into a new market and reinforces PTI’s position as the leading tower company across South America. Terms of the transaction remained confidential between the parties. Speaking about the transaction, PTI CEO, Dagan Kasavana, stated; “We are pleased to transact with Nuevatel to purchase these assets and bring the independent tower model to Bolivia.  We believe our presence in the market will provide carriers with a strong neutral host solution for their growing infrastructure needs.  Furthermore, the management team of Trilogy are long term wireless veterans that we are excited to partner with and support in the coming years.” Commenting on the agreement, Brad Horwitz, President and CEO of Trilogy, said; “We are pleased with this transaction which enhances our capital efficiency while aligning with strong partners at PTI.  We continue to look at a number of strategic and operational alternatives in Bolivia and will remain opportunistic as it relates to maximizing shareholder value,”. Choate Hall & Stewart LLP and Harrison & Harrison acted as legal advisors to PTI. Nuevatel was represented in the transaction by Lape Mansfield Nakasian and Gibson, LLC.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 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, French West Indies, Jamaica, Argentina, Ecuador, and Bolivia. Headquartered in Boca Raton, Florida, 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.

About Trilogy International Partners Inc. (“TIP Inc.”)

Trilogy International Partners Inc. (TSX: TRL) is the parent company of Trilogy International Partners LLC, a wireless and fixed broadband telecommunications operator formed by wireless industry veterans John Stanton, Theresa Gillespie and Brad Horwitz. Trilogy’s founders have an exceptional track record of successfully buying, building, launching and operating communication businesses in 15 international markets and the United States. Trilogy currently provides wireless and fixed broadband communications services through its operating subsidiaries in New Zealand and Bolivia. Its head office is located at 155 108th Avenue NE, Suite 400, Bellevue, Washington, 98004 USA. For more information, visit www.trilogy-international.com.

Contact Phoenix Tower International:

  Cat Drettmann (561) 257-0557 cdrettmann@phoenixintnl.com      

Phoenix Tower International enters agreement to purchase over 500 wireless communication tower sites located across Mexico, Colombia, and Nicaragua from Uniti Group

February 19th 2019

Phoenix Tower International (“PTI”) announces that it has reached an agreement with Uniti Group to acquire the ownership rights relating to over 500 wireless communication tower sites located across Mexico, Colombia and Nicaragua. Terms of the transaction remain confidential between the parties.

Speaking about the transaction, PTI CEO, Dagan Kasavana, stated; “We are pleased to enter into this transaction with Uniti which further expands our growing footprint in Mexico and Colombia”.

Commenting on the transaction, Uniti Group CEO, Kenny Gunderman, stated “This transaction realizes substantial value for our stockholders and allows us to focus on the vast communications infrastructure growth opportunities in the U.S., Uniti Towers will continue to be a significant component of our ongoing strategy to provide a full suite of solutions to wireless carriers and other customers.”

Citi was exclusive financial adviser on the deal.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 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, French West Indies, Jamaica, Argentina, Ecuador, and Bolivia.

Headquartered in Boca Raton, Florida, 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.

Contact Phoenix Tower International:

  Cat Drettmann
(561) 257-0557
cdrettmann@phoenixintnl.com
 

Phoenix Tower International acquires Syscom Telecom, adding over 80,000 marketable small cell wireless communication sites in the United States

December 28, 2018

  Phoenix Tower International (PTI) announces its acquisition of Syscom Telecom, LLC, thereby adding over 80,000 marketable sites to PTI’s US portfolio. Syscom Telecom, LLC, a small cell deployment business in the United States, manages and markets over 80,000 sites for small cell and macro cell deployments with various small cell master agreements in place with wireless operators. “PTI has been evaluating opportunities to back a small cell focused team in the United States as a way to help our customers with their next generation deployments” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued, “Syscom Telecom’s team, led by Santiago Quintana, has, since inception, been focused on small cell deployments on unique real estate assets such as billboards, rooftops and other locations, which are ideal for small cell installations and as a result, have made significant inroads with all wireless operators. As PTI focuses on delivering solutions for future network needs, we believe that having a strong small cell focused group, backed with capital alongside our traditional macro focused sales and operations team, is the right approach to better serve our customers collocation and network connectivity deployment needs. We are confident that, between our owned towers and third-party real estate, Syscom and PTI will deliver the level of customer service and desirable site locations for our customers as they continue to upgrade their networks from coast to coast. Recently PTI has made numerous strategic investments across the Americas to support this business plan including the acquisition of 1,000 km of fiber in Mexico, the investment in Fast Site Solutions in Central America, and the investment in Syscom LatAm in South America, which have allowed PTI to lead next generation solutions on behalf of our customers with dedicated teams in all markets.” Terms of the transaction remain confidential between the parties.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 towers, 986 km of fiber and 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, French West Indies, Jamaica, Argentina and Ecuador. Headquartered in Boca Raton, Florida, 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.

Contact Phoenix Tower International:

  Cat Drettmann
(561) 257-0557
cdrettmann@phoenixintnl.com
 

Phoenix Tower International Closes $200mn Loan Facility with Goldman Sachs to Finance Further Expansion

December 28, 2018

Phoenix Tower International (PTI) announces it has closed a US$200mn senior secured credit facility with Goldman Sachs Specialty Lending Group to continue its growth in the United States.

“This latest refinancing gives us a well-capitalized business plan to continue our growth in the United States with a strong lender group” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued, “We see various opportunities to expand in the United States through traditional macro tower construction and acquisitions as well as through small cell deployments to further help our customers grow their networks to meet consumer demands. This facility will allow us to accomplish both initiatives with dedicated financing in place”.

The credit facility was led by Goldman Sachs Specialty Lending Group. The facility is a landmark transaction for PTI’s continued focus on being a leading provider of infrastructure assets. The credit facility provides financing on PTI’s existing wireless infrastructure, new tower development, and growth of its small cell business.

PTI was represented by Locke Lord. Goldman Sachs Specialty Lending Group was represented by King & Spalding. Terms of the transaction remain confidential between the parties.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 towers, 986 km of fiber and 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, French West Indies, Jamaica, Argentina and Ecuador. Headquartered in Boca Raton, Florida, 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.

Contact Phoenix Tower International:


Cat Drettmann
(561) 257-0557
cdrettmann@phoenixintnl.com
 

Phoenix Tower International closes on acquisition of 1,039 wireless communication tower sites in the Dominican Republic

October, 3rd, 2018

BOCA RATON, Fla. — Phoenix Tower International (“PTI”) has closed on it’s agreement with Altice Dominicana, a subsidiary of Altice Europe N.V. (Euronext ATC, ATCB) (“Altice Europe”), to purchase 100% of the tower company, Teletorres del Caribe, with a portfolio comprising of 1,039 wireless communication tower sites for $170M. This latest transaction expands PTI’s footprint, in the Dominican Republic, to over 1,600 sites and reinforces PTI’s position as the leading tower company across the Caribbean.

[Read more…]

Phoenix Tower International acquires 451 wireless communication tower sites from Digicel in Jamaica

October 1, 2018

Phoenix Tower International (“PTI”) via its subsidiary Phoenix Tower Jamaica Limited, announces that it has closed its sale and leaseback transaction with Digicel to acquire the ownership or management rights relating to 451 wireless communication tower sites for US$90M. This latest transaction expands PTI’s footprint into a new market and reinforces PTI’s position as the leading tower company across the Caribbean. Terms of the transaction remained confidential between the parties.

Speaking about the transaction, PTI CEO, Dagan Kasavana, stated; “This latest transaction between PTI and Digicel deepens our excellent working relationship and strengthens PTI’s position as the premier wireless infrastructure provider in the Caribbean. Jamaica is poised for significant wireless growth and data consumption in the years to come and PTI looks forward to helping our Jamaican customers, landlords, and communities we operate in meet these growing demands successfully.”

Commenting on the agreement, Digicel Group CEO, Alex Matuschka, said; “With similar agreements with PTI for sites in El Salvador and the French West Indies, this was the next natural step and we are delighted to be extending our partnership. This move is consistent with our stated intent to divest non-strategic assets and focus on building our business for the future.”

Choate Hall & Stewart LLP and Harrison & Harrison acted as legal advisors to PTI. Orrick and Nunes, Scholefield, DeLeon & Co. acted as legal advisor to Digicel. Scotiabank was PTI’s sole financial advisor to the transaction.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 towers, 974 km of fiber and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands. 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, and is headquartered in Boca Raton, Florida.

For further inquiries, please contact Phoenix Tower International:

Cat Drettmann

(561) 257-0557

cdrettmann@phoenixintnl.com  

Phoenix Tower International Closes $485mn Term Loan Facility to Finance Further International Growth

October 1, 2018

Phoenix Tower International (PTI), a leading wireless communications infrastructure provider, announces it has closed a US$485mn senior secured term loan facility to continue its international expansion.

PTI successfully upsized and extended its existing credit facility and strengthened the composition of its syndicate group highlighting the company’s continuing success. The transaction consists of US$290mn senior secured 5-year term loan and US$195mn delayed draw which will allow PTI to continue expanding internationally.

The credit facility was led by Scotiabank, with Goldman Sachs, Deutsche Bank, Santander, ING Capital, Natixis, Banco General, Orix Capital, and Towerbank participating and is the first Pan-Latin America facility of its kind secured by infrastructure assets. The credit facility provides financing on PTI’s existing wireless infrastructure, new tower development and acquisitions across PTI’s existing Latin America markets as well as many additional Latin America markets including Belize, Chile, Costa Rica Colombia, Dominican Republic, El Salvador, the French West Indies, Guatemala, Guyana, Honduras, Jamaica, Mexico, Panama, Peru, Suriname, Uruguay, Argentina, Bolivia, Ecuador, Nicaragua and Paraguay.

“With this financing, PTI has full flexibility to continue to grow the business across Latin America with available debt financing at our disposal. This will allow us to deliver for our customers, sellers and business partners in an expedited manner with a syndicated lender group comprised of long term relationships that PTI has had since inception as well as new relationships that will help PTI take the business to the next level in the years to come. We are incredibly excited to close this loan with Scotiabank and the entire lender group.” Said Dagan Kasavana, Chief Executive Officer of PTI.

PTI was represented by Locke Lord. Scotiabank and the Lender Group were represented by White & Case. Terms of the transaction remain confidential between the parties.

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 towers, 974 km of fiber and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands. 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, and is headquartered in Boca Raton, Florida.

For further inquiries, please contact Phoenix Tower International:

Cat Drettmann

(561) 257-0557

cdrettmann@phoenixintnl.com  

Multi-national tower company, Phoenix Tower International acquires Costa Rican startup, FastSite leading the next generation of wireless infrastructure.

Sept, 18, 2018

  Boca Raton, FL, – International wireless infrastructure provider, Phoenix Tower International (“PTI”) announced it acquired majority shares of Costa Rican based FastSite.

FastSite specializes in the installation and leasing of cellular amplification systems in structures and spaces where installation of cellular towers is unfeasible or inefficient. These systems include indoor and outdoor DAS Networks – fiber-fed distributed antenna networks designed to facilitate wireless communications services for multiple operators for improved connectivity.

The acquisition will expand Phoenix Tower International’s portfolio of DAS, providing additional wireless coverage and capacity solutions to customers beyond those areas traditionally served by towers and provide FastSite the means to grow their footprint and service offerings. So far, FastSite has invested more than US $2 million with plans to expand outside of Costa Rica into countries such as Panama, Dominican Republic and Colombia.

Established in 2017, FastSite has implemented a series of DAS Networks in highly concentrated venues in Costa Rica such as the Eladio Rosabal Cordero Stadium, and various commercial and residential developments such as Santa Verde, and the Oxygen in the province of Heredia.

“The technological solutions FastSite has introduced bridge gaps in wireless connectivity and capacity greatly enhancing the end user experience at these locations, increasing productivity and public safety”, stated Juan Fernando Acuña, CEO of FastSite.

Regarding the agreement with Phoenix Tower International, Mr. Acuña stated, “The integration of FastSite operations to Phoenix Tower International is testament to the expertise and leadership FastSite has achieved in the small-cell and DAS sector. This acquisition is an exciting opportunity to combine our service offerings for robust end-to-end solutions”.

Commenting on the agreement, Phoenix Tower International CEO, Dagan Kasavana, said; “We are very pleased with our acquisition of FastSite. Small cell architecture, such as DAS, is an integral component to wireless networks of the future. This acquisition provides PTI the ability to better serve customers and communities we serve with a complete set of solutions to meet their growing demands.”

Phoenix Tower International and FastSite future endeavors are supported by the company’s strong financial backing for next-generation wireless infrastructure projects. Phoenix Tower International’s Investors include funds managed by Blackstone Tactical Opportunities and John Hancock.

About FastSite:

FastSite is a Costa Rican company founded in 2017, dedicated to the design, installation and leasing of distributed antenna Solutions (DAS) with the aim of amplifying the cellular signal in real estate or public spaces, where the installation of towers is unviable or little Effective. He has developed projects in high concentration sites such as the Cima San José Hospital, the Eladio Rosabal Cordero Stadium, the city of East shopping center and oxygen, mixed development in San Francisco de Heredia. From July 2018 is part of Phoenix Tower International (PTI).

About Phoenix Tower International:

Phoenix Tower International (“PTI”) owns and manages over 6,000 towers, 974 km of fiber and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands. PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets.

Contact Information

Phoenix Tower International:
Cat Drettmann
+1-561-227-9649
cdrettmann@phoenixintnl.com

Blackstone to partner with John Hancock in Phoenix Tower International

July 31, 2018

  New York, New York, – Blackstone (NYSE: BX) today announced that funds managed by Blackstone Tactical Opportunities (“Tac Opps”) have agreed to sell a minority stake in Phoenix Tower International (“PTI”) to John Hancock. The stake was acquired by John Hancock Life Insurance Company (U.S.A.) (“JHUSA”) and the John Hancock Infrastructure Fund, GP (“JHIF”). JHIF, a private equity fund with approximately $2 billion of committed capital, is managed by the Power & Infrastructure team. “Providing growth capital to outstanding management teams is a hallmark of Blackstone’s investments in the mobile and internet infrastructure sector,” said Jasvinder Khaira, a Senior Managing Director in Blackstone’s Tactical Opportunities Group. “The exceptional growth of PTI has made it the leading private tower company in the Americas and we are thrilled to have John Hancock join us as partners, as we continue to grow the business.” “We are pleased to expand our telecommunications infrastructure platform with an investment in PTI,” said Recep Kendircioglu, Senior Managing Director of the John Hancock Power and Infrastructure Group and Portfolio Manager of JHIF, an infrastructure Fund on Manulife’s Private Markets platform. “We have confidence in the future of the telecom infrastructure space, PTI’s management team and are pleased to work with Blackstone’s Tactical Opportunities Group to the benefit of our investors.” Dagan Kasavana, PTI’s CEO, said, “I am incredibly proud to have Blackstone and John Hancock as PTI’s investors. The powerful combination of these two firms provides PTI with the support it needs to continue deploying capital globally.” Tim Culver, PTI’s Chairman, said: “Both Blackstone and John Hancock are partners that share PTI’s values and vision to position PTI as the leading wireless infrastructure platform to serve our customers, employees and business partners.” PTI is the fastest growing wireless tower operator in the Americas and a market leader in all its operating markets. The company was founded in 2013 by Dagan Kasavana, with a mission to own and operate high quality wireless infrastructure assets in global markets experiencing strong growth. Blackstone Tactical Opportunities invested in PTI in 2014. With 120 employees and headquartered in Boca Raton, FL, PTI manages over 3,500 owned sites (including sites under contract), over 2,500 managed sites under marketing rights agreements and 974 km of fiber in 10 countries. Blackstone was advised by Guggenheim Securities and Akin Gump Strauss Hauer & Feld LLP. John Hancock was advised by TAP Advisors LLC and Paul, Weiss, Rifkind, Wharton & Garrison LLP.

About Phoenix Tower International:

PTI owns and operates more than 3,500 sites (including sites under contract), over 2,500 managed sites under marketing rights agreement and 974 km of fiber and other wireless infrastructure and related sites throughout Argentina, Colombia, Costa Rica, Dominican Republic, El Salvador, French West Indies, Mexico, Panama, Peru and the United States, including Puerto Rico and the US Virgin Islands.

Contact Information

Phoenix Tower International:
Cat Drettmann
+1-561-227-9649
cdrettmann@phoenixintnl.com