07/19/2011, GTP
BOCA RATON, FL - July 19, 2011 - Global Tower Partners ("GTP") announced today that it closed its $645,000,000 Secured Tower Revenue Notes Global Tower Series 2011-2 on July 7, 2011. The Company issued $490,000,000 Series C Notes (rated A2(sf)/A(sf) by Moody's and Fitch respectively) and $155,000,000 Series F notes (rated Ba3(sf)/BB-(sf) by Moody's and Fitch respectively). The notes have a blended coupon of 5.135 percent with a 30-year legal maturity.
The transaction was underwritten by Morgan Stanley and Deutsche Bank Securities, with co-managers Bank of America, Merrill Lynch, RBC Capital Markets, and TD Securities. The Company used a portion of the proceeds to repay its existing 2007-1 Notes. The residual proceeds will provide the Company with incremental capital to fund its future business plan activities.
"This is GTP's fourth securitization, and enables us to further reduce our funding costs on attractive, long-dated terms," said Marc Ganzi, GTP's Chief Executive Officer. "The success of our 2011-2 securitization reflects the strength and depth of GTP's assets and the mission-critical nature of our sites to the broader wireless ecosystem."
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, and
that are 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 proposed offering.
These forward-looking statements involve a number of risks and
uncertainties. Among the important factors that could cause actual
results to differ materially from those indicated in such
forward-looking statements include uncertainties relating to market
conditions for mortgage-backed securities generally, for securities
backed by mortgages on communications towers, and for these
securities in particular. 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.
