12/18/2008, GTP
Boca Raton, Florida - Global Tower Partners (the "Company") announced today that it has closed a $165 million dollar senior credit facility, with a five-year maturity. The transaction was arranged by Toronto Dominion Bank and was also led by Royal Bank of Canada, Societe Generale and Bank of America.
The Company used a portion of the net proceeds to pay off existing indebtedness and the remainder is expected to provide the Company incremental capital to fund its future business plan activities, as well as for general corporate purposes.
Global Tower Partners is the 4th largest independent owner and operator of wireless communications sites in the U.S. with a portfolio of approximately 3,100 towers and 6,500 rooftop sites available for collocation. For more information about Global Tower Partners please visit www.gtpsites.com.
This press release contains "forward‐looking statements" concerning the proposed offering 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, statements regarding the Company's expectations of the dollar amount to be raised in the proposed offering, the Company's ability to complete the proposed offering and the timing of the closing of the offering, and 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 (http://www.gtpsites.com), is
one of the leading providers of outsourced antennae site facilities
to the wireless communications industry in the United States. GTP's
business includes the ownership, development, leasing and
management of antennae sites on towers and commercial real estate
rooftops. GTP owns, manages or master leases more than 10,200
wireless sites, including 3,300 towers throughout the United
States. GTP's customers are leading wireless communications
providers including Sprint-Nextel, AT&T/Cingular Wireless,
T-Mobile USA, Verizon Wireless, MetroPCS, Cricket Communications
and Centennial Wireless.
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.
