Linklaters Advised International Lenders and Investors on EUR 7.7bn Financing Platform for GD Towers
Linklaters Advised International Lenders and Investors on EUR 7.7bn Financing Platform for GD Towers
Linklaters has advised an international syndicate of bank lenders and private placement investors on the establishment of a new rated common terms agreement platform and a combined migration and private placement issuance of EUR 7.7bn for GD Towers, one of Europe’s largest independent tower companies.
GD Towers operates approximately 43,500 sites across Germany and Austria and is the third largest TowerCo in Europe by number of sites. The business is underpinned by long-term master lease agreements with Deutsche Telekom in Germany and Magenta Telekom in Austria and provides critical passive mobile network infrastructure to mobile network operators, broadcasters and emergency services.
The transaction involved the implementation of an infrastructure-style capital structure on the basis of a secured and covenanted long-term financing platform. Under the new platform, existing syndicated bank facilities are migrated and complemented by multiple tranches of long-dated, investment grade private placement notes issued to US, UK and European institutional investors.
"It has been a privilege to put in place this structured financing platform for GD Towers and act for commercial banks, private credit investors and insurance capital around the world. The size of this financing is real testament to the strength of infra and tower assets in Europe and we are proud to support this sector.” stated Sebastian Witte, Managing Associate.
The Linklaters team was led by Alexander Schlee (Partner), Przemyslaw Lipin (Partner) and Elisabeth Johnson (Partner) and Sebastian Witte (Managing Associate) and Lasse Petersen Weis (Managing Associate) supported by Soumya Gupta (Associate) and Durlav Nayak (Associate).
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