07/26/2011, GTP
BOCA RATON, FL - July 26, 2011 - Global Tower Partners (GTP) announced today that its wholly-owned subsidiary, Global Tower Holdings, has obtained a new $170,000,000, five-year, revolving loan.
TD Securities served as the Lead Arranger and Book Runner and RBC Capital Markets served as Joint Arranger, Joint Book Runner and Syndication Agent for the loan, while Bank of America, Morgan Stanley and Deutsche Bank also provided commitments. TD Securities will also serve as the Administrative Agent for the loan.
GTP anticipates using the proceeds from the revolving loan to fund its future business plan activities.
"GTP's ability to continue to secure funding for future expansion on attractive business terms is a testament to the quality of our underlying asset base and the importance of our mission-critical infrastructure to the broader wireless ecosystem," said Marc Ganzi, GTP's Chief Executive Officer. "We are grateful to our lender partners for their continued support."
Global Tower Partners is the fourth largest independent owner and operator of wireless communications sites in the United States with a portfolio of more than 13,000 sites available for collocation.
Cautionary Language Concerning Forward-Looking
Statements
This press release contains "forward-looking statements" that are
based on management's current expectations and assumptions, not
based on historical facts. Examples of these statements include,
but are not limited to, the Company's expectations for the use of
proceeds from the funding. These forward-looking statements involve
a number of risks and uncertainties. We undertake no obligation to
update the information contained in this press release to reflect
subsequently occurring events or circumstances.
About Global Tower Partners
Global Tower Partners (www.gtpsites.com), based in Boca Raton,
Florida, is one of the leading providers of outsourced antenna site
facilities to the wireless communications industry in the United
States. GTP's business includes the ownership, development, leasing
and management of antenna sites on towers and commercial real
estate rooftops. GTP owns, manages or master leases more than
13,000 wireless sites. GTP's customers are leading wireless
communications providers including AT&T, Sprint-Nextel, Verizon
Wireless, T-Mobile USA, Leap Wireless, Clearwire, US Cellular and
Metro PCS.
We make leasing space easy with our simple and short Collocation Application
Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and has assets under management totaling nearly $200 billion USD as of September 2009.
