Harneys advises on €450 million loan finance to Phoenix Tower International

Harneys acted as Cyprus counsel to Caisse de dépôt et placement du Québec, a global investment group, and AMP Capital, a global investment manager, on a €450 million financing in secured notes issued by affiliates of Phoenix Tower International. The amount may be further increased by €325 million, through an accordion feature.

Phoenix Tower International is a leading global wireless communications infrastructure provider. It owns and operates over 12,500 towers, 986 km of fibre and markets over 80,000 other wireless infrastructure and related sites located in 16 countries throughout Europe, the United States, Latin America and the Caribbean.

The Harneys team, led by Partner Theodoros Zafiropoulos with assistance from Senior Associate Ariana Georgallis, assisted a multi-jurisdictional team at lead counsel Norton Rose Fulbright.

Theodoros commented: “We were delighted to assist Norton Rose Fulbright, in its role as lead counsel to Caisse de dépôt et placement du Québec and AMP Capital, on this landmark transaction and we wish Phoenix Tower International every success for its growth in both existing and new markets worldwide.”

Harneys Banking and Finance practice group has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives.