Landmark Infrastructure Partners obtained commitments from a syndicate of banks for an amended and restated five-year revolving credit facility with initial borrowing commitments of no less than $450 million.

SunTrust Robinson Humphrey and Citizens Financial Group arranged the facility, which replaces the company’s existing revolver, which is scheduled to mature on November 19, 2019.

Closing on the new facility is expected in November 2018, subject to customary closing conditions.

Borrowings under the new revolver, among other provisions, are expected to bear interest at a rate equal to LIBOR, plus a spread ranging from 1.75% to 2.25% (determined based on leverage levels). Up to $75 million in loans under the facility may be denominated in pound sterling, euro, Australia dollars and Canadian dollars.

The new revolver, administered by SunTrust Bank, will be secured by the assets of the respective borrower, co-borrowers and guarantors (e.g., the unencumbered consolidated subsidiaries of Landmark). Further, the facility will incur a fee ranging from 0.15% to 0.20% (determined based on leverage levels) on unused commitments.

“We are pleased to announce the early refinancing of our revolving credit facility on favorable terms. The proposed credit facility supports our strategic initiatives for 2019 and beyond. We appreciate the support and commitment from the participating lenders,” said George Doyle, chief financial officer and treasurer of the Partnership’s general partner.

Landmark Infrastructure Partners owns and manages a portfolio of real property interests and infrastructure assets that it leases to companies in the wireless communication, outdoor advertising and renewable power generation industries.