Vertical Bridge, the largest private owner and manager of wireless communication infrastructure in the U.S., yesterday announced it has closed on a $321 million asset-backed securities offering led by Deutsche Bank Securities and Barclays. The issuance, which is secured by more than 1,500 Vertical Bridge tower sites across the U.S., gives the company additional flexibility to continue its real estate portfolio expansion.
Concurrently, Vertical Bridge paid off
its existing Senior Credit Facility, and the company entered into a new
$400 million Senior Secured Credit Facility led by TD Securities, with
Barclays Bank PLC, CIT Bank N.A., Deutsche Bank AG, JPMorgan Chase Bank,
and SunTrust Robinson Humphrey, Inc., as joint lead arrangers and joint
book runners. Continue Reading