The credit facility was used to finance the acquisition of Teletower Dominicana and provide additional financing for new tower development, acquisitions of wireless infrastructure in the Dominican Republic and other corporate purposes.
Scotiabank served as lead arranger on the credit facility and financial advisor on the acquisition.
“The closing of this credit facility with Scotiabank will help PTI expand its business plans further in the Dominican Republic where we see various opportunities for continued growth,” said Dagan Kasavana, CEO of Phoenix Tower International. “Scotiabank is a market leader in tower financing and we are excited to work with them in our continued expansion in the Dominican Republic and other markets across Latin America and the Caribbean”
Phoenix Tower International owns and operates towers and other wireless infrastructure and related sites throughout Latin America, the Caribbean and the U.S.