Phoenix Tower Spreads its WingsComments Off on Phoenix Tower Spreads its Wings
Phoenix Tower International, a company that owns and operates towers and other wireless infrastructure related sites through Latin America and the U.S., announced the closing of a seven year credit facility between its local subsidiaries in Costa Rica and Panama as well as a consortium of lenders led by Banco General, S.A. joined by Towerbank, Metrobank and Banco General (Costa Rica). The credit facility provides debt financing on PTI’s existing wireless infrastructure as well as additional financing for new tower development and acquisitions of wireless infrastructure in Costa Rica and Panama. “The closing of this credit facility with Banco General, enhances PTI’s ongoing commitment to its customers in Costa Rica and Panama. Banco General is a market leader in tower financing in Central America and we are excited to work with them in our continued growth across the region,” stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. “Banco General is very pleased to have had the opportunity to work with PTI and its management in this financing transaction. We see significant growth opportunities in the sector and in the region and we look forward to continue supporting the company as it embarks into its next phase of growth,” stated Stavros Tsokonas, Assistant Vice President at Banco General. Terms of the transaction remain confidential between the parties.