Daily News: June 22, 2016

TD Leads $400MM Vertical Bridge Senior Credit Facility


Vertical Bridge, a private owner and manager of wireless communication infrastructure, entered into a new $400 million senior secured credit facility led by TD Securities, with Barclays, CIT Bank, Deutsche Bank, JPMorgan Chase and SunTrust as joint lead arrangers and joint book runners.

“Completion of a new $400 million credit facility allows Vertical Bridge to continue to purchase and develop attractive sites across the U.S,” said Alex Gellman, chief executive officer and co-founder of Vertical Bridge.

The facility has a five-year term, maturing in June of 2021, and is secured by mortgages on certain tower sites and a security interest in the towers and related leases.

Boca Raton, FL-based Vertical Bridge owns, operates and manages more than 45,000 tower, rooftop, billboard, utility attachment and other site locations in support of all wireless network deployments.