Simpson Thacher advised Phoenix Tower International ("PTI") on its new $6.5 billion multi-jurisdiction financing, which is the largest of its kind for a privately held tower company.
The financing consists of $5.365 billion equivalent in term loan facilities, $635 million equivalent in delayed draw term loan facilities and a $500 million revolving credit facility spanning 23 jurisdictions across Europe, Latin America, the Caribbean and the United States. The facilities will be used to refinance existing debt, support capital expenditure and acquisition activity, and provide working capital. Closing is expected by the end of September 2026.
PTI is a major global wireless communications infrastructure provider headquartered in Boca Raton, Florida, owning and operating over 33,000 mobile network sites across 23 countries.
The Simpson Thacher team advising PTI was led by Claire Williams and included Charley Xu, Franca Kim, Paige Edwards, Josephine Kingsford Smith and Rananjay Singh Rathore (UK Credit); Netanya Clixby (Derivatives); Caroline Tompkins and Brian Gluck (US Credit); Jordan Wong (UK Tax); and Meredith B. Jones and Max Toubiana (US Tax).