Daily News: January 2, 2019

Goldman Sachs Closes $200MM Secured Facility for Phoenix Tower


Phoenix Tower International closed a $200 million senior secured credit facility with Goldman Sachs Specialty Lending Group to support 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,” said Dagan Kasavana, Phoenix Tower CEO. “We see various opportunities to expand 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 will provide financing for Phoenix Tower’s existing wireless infrastructure, new tower development and growth of its small cell business.

Locke Lord represented Phoenix Tower on the transaction. King & Spalding represented Goldman Sachs Specialty Lending Group.

Further terms of the transaction remain confidential between the parties.

Founded in 2013 and headquartered in Boca Raton, FL, Phoenix Tower International owns and manages over 6,000 towers, 986 km of fiber and other wireless infrastructure and related sites throughout the U.S., Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, Argentina and Ecuador.