Marks the First Ever Asset Backed Securitization of a Portfolio of Mexican Tower Assets
BOCA RATON, FL – October 18, 2017 – Digital Bridge Holdings, LLC today announced that, its portfolio company, Mexico Tower Partners, LLC (“MTP”) successfully issued a MX$2.124bn peso tower securitization in Mexico’s capital markets. The notes were issued at a five year fixed rate of 9.01%.
MTP is the largest private independent operator of wireless communications infrastructure in Mexico with a portfolio of 1,763 managed sites across all 32 states. The issued notes are backed by MTP’s portfolio of wireless tower leases.
The notes, which were rated as an investment grade AAA by Moody’s and Fitch, have an anticipated repayment date of October 20, 2022 with a maturity date of October 18, 2047. Additionally, the notes have no amortization through anticipated repayment date versus the 55% amortization under the existing debt. Proceeds of the securitization will be used to refinance the existing bank facility. The financing generates approximately MX$350mm pesos of additional capital at closing and will provide substantial cost and amortization savings over the next 5 years.
“We are very excited and proud to have completed the first successful securitization of a portfolio of tower assets in Mexico,” said Marc Ganzi, Founder and CEO of Digital Bridge. “Having completed this financing, we can continue to grow in the region and help meet the high demand for communications infrastructure driven by increased mobile data consumption.”
Barclays served as the sole structuring agent and bookrunning manager for the offering.
This press release is neither an offer to sell, nor a solicitation of an offer to buy any Notes nor shall there be any sale of the Notes in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Digital Bridge
Founded in 2013 by Marc C. Ganzi and Ben Jenkins, Digital Bridge is focused on the ownership, investment, and active management of companies in the mobile and internet infrastructure sector. Since inception, Digital Bridge has raised over $7.5B USD of equity and debt capital used to acquire and invest in all four core pillars (data centers, towers, fiber and small cells) of mobile and internet infrastructure through six businesses, including Vantage Data Centers, DataBank, ExteNet Systems, Vertical Bridge, Andean Tower Partners, and Mexico Tower Partners.
About Mexico Tower Partners
Mexico Tower Partners is the largest private owner and manager of wireless communication infrastructure in Mexico. The company owns, operates and manages a portfolio of more than 1,850 telecommunications towers distributed nationwide. Mexico Tower Partners was founded in 2014 as the result of combining of the Mexican cell tower portfolios of Digital Bridge, and Macquarie Mexican Infrastructure Fund.