02/20/2009, GTP
Boca Raton, Florida - Global Tower Partners (the "Company") announced today that it has expanded its senior credit facility by $55 million dollars with an incremental delayed draw term loan with the same five-year maturity. The additional funds were provided by Toronto Dominion Bank, Royal Bank of Canada, Barclays Bank, and Deutsche Bank. The original $165 million financing transaction, completed in December 2008, was arranged by Toronto Dominion Bank and was also led by Royal Bank of Canada, Societe Generale and Bank of America.
The Company is expected to use the additional funds 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.
Global Tower Partners (), 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.
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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.
