Macquarie Mexican Infrastructure Trust has agreed to make a follow-on investment in Mexico Tower Partners (MTP) to fund the acquisition of a significant portfolio of wireless and broadcast telecommunication sites in Mexico.
Scotiabank is the agent and bookrunner for the debt financing of the acquisition. Scotiabank Inverlat, SA Institucion be Banca Multiple, Grupo Financiero Scotiabank is the agent and bookrunner for the debt financing of the acquisition.
“We continue to believe the wireless tower industry in Mexico presents attractive opportunities for independent operators such as MTP and are pleased to announce this additional investment,” says Jonathan Davis Arzac, Chairman, MMIF. “The portfolio that MTP will acquire is an excellent asset as there are few independent portfolios of this size in Mexico. This acquisition will also serve to further diversify MTP’s customer base.”
MTP is a 50/50 joint venture between MMIF and Digital Bridge, a leading global communications infrastructure platform. MTP was established in May 2014 after MMIF and Digital Bridge merged their existing telecommunications tower portfolios in Mexico to form the second largest independent telecommunication towers business in the country. Upon completion of the acquisition, which is expected to close in the second quarter of 2015 subject to customary closing conditions, MTP will have a portfolio of approximately 1,200 towers under management.
Once the follow-on investment is fully funded, MMIF will have invested a total of approximately Ps.1,300 million in MTP.