Texas Capital Bank led a $75 million syndicated credit facility for Strategic Wireless Infrastructure Funds Management.
“We are excited to be working with the Strategic Wireless team as they continue to pursue opportunities within the telecommunications infrastructure sector,” Elizabeth Falco, executive vice president of Texas Capital Bank, said. “We believe that management’s track record and professionalism illustrate their ability to execute a successful business case and continue as leaders with their industry.”
The credit facility, which was secured for SWI Funds Property Holdings, includes an accordion, which will allow Strategic Wireless the ability to access up to $75 million throughout the term of the agreement. The syndication includes a number of other lenders with backgrounds in lending within the telecommunications sector. Strategic Wireless believes the credit line will significantly enhance its ability to continue acquiring and developing a diversified portfolio of telecommunications infrastructure assets within the U.S.
“We appreciate the confidence and commitment that Texas Capital Bank and each of the other banking partners have made to our company,” Jerry Sullivan, CEO of Strategic Wireless, said. “Such a commitment in the early stages of our growth speaks volumes to the opportunities in the telecom infrastructure arena as well as to the confidence in our management team’s ability to execute on our strategy. While we will continue to exercise discipline in all of our acquisition and development opportunities, this facility will allow us to execute our business strategy at a faster pace, giving us leverage in an industry where timing is critical.”
Strategic Wireless is an investment manager and capital partner focused on acquiring, developing and managing telecom infrastructure assets that support broadband connectivity.
Texas Capital Bank is a commercial bank headquartered in Dallas.