Basic information
Company name
PTIE – Phoenix Tower International Ecuador S.A.
Investment type
Loan
E&S category
B
Disclosed date
Projected board date
Approval date
Signed date
Sponsoring entity
Phoenix Tower International III, LLC
Team Leader
Arauz, Gonzalo C.
Financial Summary
Financing amount
$ 80,000,000
Financing Currency
USD
Client
information
Natalie Morales
Director of Treasury
+1-561-572-9752
nmorales@phoenixintnl.com
PROJECT
SCOPE
AND
OBJECTIVE
The Proposed transaction is long-term secured financing of up to US$110 million to support Phoenix Tower International’s (“PTI”) shared infrastructure business model in Ecuador, kickstarted by the acquisition of an existing tower portfolio from Otecel S.A. (“Movistar Ecuador”), together with additional growth capital expenditure and working capital needs (the “IDB Group Financing”). The IDB Group Financing consist of IDB Group A-loans of up to US$80 million and a potential co-loan of US$30 million mobilized by IDB Invest.
PTI is one of the largest independent wireless infrastructure operators and has been growing rapidly in Americas and the Caribbean since its start of operation in 2014. The Company’s innovative digital infrastructure sharing model will allow different mobile network operators to increase mobile broadband capacity and coverage more efficiently in Ecuador, which is especially critical in the context of COVID-19 pandemic in which social distancing requires reliable broadband connectivity.
