Brazil Tower raises $104M in debt financing for expansion

Brazil Tower Company (BTC), a privately-held, neutral host tower company with over 600 wireless towers currently in its portfolio, recently closed on US$79 million of a $104 million long-term senior secured debt financing with three international lenders led by Cordiant Capital of Montreal, Canada.  BTC expects to close on the remaining $25 million of financing during Q3 of this year. 

BTC, whose customers include the major wireless operators including Telefonica, TIM and Claro, plans to use the funds to add 600 more towers.

"We are very excited about the growth we are realizing in Brazil through new tower development and new collocations and amendments.  Our backlog of new towers and pipeline for growth is the strongest we have seen since 2015," said Tom Staz, BTC's Chief Financial Officer and a partner at 1848 Capital Partners in Miami, BTC's primary equity sponsor.  "With the support of our new debt facility and a large inventory of customer orders, we will continue to strategically rollout new tower sites over the next 18 - 24 months to double the size of our tower portfolio and triple the cash flows of the business."