GREENWICH, Conn. – Strategic Venue Partners (SVP), a provider of in-building wireless infrastructure in the U.S., today announced the successful completion of its inaugural $120 million 4(a)(2) private placement. The transaction, backed by a syndicate of institutional investors, marks the first investment-grade rated long-term financing of an in-building wireless (IBW) portfolio in the industry.
The proceeds from the private placement will refinance SVP’s existing wireless infrastructure and support continued expansion amid the increasing demand for mission-critical IBW solutions. In parallel, SVP has refinanced its revolving credit facility to further enable the development of new projects.
Justin Marron, CEO of SVP, stated:
“This inaugural private placement marks the latest step in SVP’s continued growth and institutionalization. The placement is also a milestone for our industry as the first of its kind long-term financing for a portfolio of in-building wireless infrastructure assets. Achieving an investment-grade rating further validates the long-term value of our distinctive wireless connectivity-as-a-service model, our mission-critical infrastructure, and our deep venue and carrier relationships.”
Marc H. Blair, COO and Senior Managing Director of Tiger Infrastructure Partners, added:
“This innovative financing transaction creates an attractive capital structure for SVP today while also providing an efficient vehicle to support its growth plans for the future, given the unique attribute that the structure is portable. SVP’s business plan from day one has been to design, build, own, and operate critical utility-like wireless infrastructure. It has been an exceptional twelve months for SVP, as the company welcomed several new esteemed customers while also expanding its infrastructure assets with existing customers. This transaction highlights one of the key benefits of achieving scale in the IBW sector.”
SVP is backed by Tiger Infrastructure Partners, which holds a controlling stake in the company, and Brookfield Asset Management, a global leader in infrastructure investment, which recently became a minority equity investor.
TD Securities served as the sole agent on the private placement, as well as the left lead arranger and sole bookrunner on the credit facility refinancing.
