Ares funds $2 billion debt facility for Phoenix Tower International
ARES•Ares provided $2 billion of a $6.5 billion multi-jurisdiction debt facility for Phoenix Tower International, with about $1.8 billion funded at closing. Proceeds will refinance existing loans, increase liquidity and support PTI’s expansion.
1. Facility details
Ares provided $2 billion of the $6.5 billion facility, with about $1.8 billion funded at closing. Proceeds will refinance existing loans, increase liquidity and support Phoenix Tower International’s expansion in current markets and new countries.
2. PTI operations
Phoenix Tower International operates more than 33,000 wireless sites across 23 countries. The transaction ranks among the largest private credit financings in the telecom towers sector.
