BOCA RATON, Fla. -- September 01, 2026 -- Phoenix Tower International (PTI) has signed a $6.5 billion multi-jurisdiction financing package, the largest such deal for a privately held tower company in the wireless infrastructure sector.
PTI structures $6.5 billion across three facility types spanning 23 countries
The package comprises $5.365 billion equivalent in term loan facilities, $635 million equivalent in delayed draw term loan facilities, and a $500 million revolving credit facility. The financing covers all 23 jurisdictions where PTI operates, including markets across Europe, Latin America, the Caribbean, and the United States.
Proceeds target debt consolidation and network expansion
PTI will use the funds to repay existing indebtedness, cover related fees and expenses, finance capital expenditure and acquisitions, and fund working capital needs. The company operates more than 33,000 mobile network sites across the 23 countries as a neutral host infrastructure provider, offering open access to all mobile network operators. The transaction is targeted to close by the end of September 2026.
CEO cites AI traffic growth as driver behind capital raise
Dagan Kasavana, Chief Executive Officer of PTI, said the existing network architecture will face significant strain in the coming years from AI traffic and continued growth in data consumption. He said the financing gives PTI the capital structure and flexibility to keep investing in infrastructure connecting communities worldwide.
CFO says deal simplifies capital structure, cuts borrowing costs
Michael Bremer, Chief Financial Officer of PTI, said the $6.5 billion transaction will enable the company to simplify its capital structure, reduce borrowing costs, and access incremental capital for future growth. Bremer described the transaction as reflecting confidence from lending partners in PTI's execution across 23 jurisdictions.
Deal consolidates PTI's fragmented existing loan portfolio
Before this transaction, PTI carried separate loan facilities tied to different jurisdictions and acquisition timelines, a structure that added complexity to refinancing and currency management across markets in Europe, Latin America, and the Caribbean. The consolidated facility replaces that patchwork with a single multi-jurisdiction structure, reducing administrative overhead tied to managing multiple lender groups and covenant sets across 23 countries.
Tower sector faces rising capital needs from data growth
Wireless infrastructure providers globally are raising larger financing packages as mobile network operators push more traffic through existing tower networks. Tower companies including PTI have cited increased data consumption tied to AI applications as a factor driving demand for capacity upgrades, densification projects, and new site acquisitions in both mature and emerging markets. The scale of PTI's financing, at $6.5 billion, exceeds prior debt packages raised by comparable privately held tower operators in the neutral host segment.
Lender group backs largest financing of its kind in tower industry
PTI did not disclose the specific banks or lenders participating in the syndicate, but both Kasavana and Bremer characterized the lender appetite as strong. The transaction's size and multi-jurisdiction scope required coordination among lending partners operating across differing regulatory and currency environments in the 23 countries where PTI holds tower assets.