The banking, finance and capital markets team of Alcogal, a leading telecommunications law firm in Panama, acted as local counsel to Phoenix Tower International Panama S. de R.L., and Torres Panameñas S. de R.L., (borrowers) in relation to the preparation, execution, delivery, and consummation of a term loan agreement for US$32.150 million granted by Banco General, S.A., Metrobank, SA and Towerbank International Inc.
Telecommunications law firm in Panama
The loan was granted for the purchase of assets for the transmission of cellular signals.
The 7 year credit facility provides debt financing on Phoenix Tower International’s existing wireless infrastructure as well as additional financing for new tower development and acquisitions of wireless infrastructure in Costa Rica and Panama and enhances Phoenix Tower International’s ongoing commitment to its customers in Costa Rica and Panama.
The Alcogal team for this financing was led by partner Eloy Alfaro with the support of international associate Rita de la Guardia. The borrowers were represented by Milbank, Tweed, Hadley & McCloy LLP (NY Office), Arias, Fabrega & Fabrega (Panama) and Zurcher Odio and Raven (Costa Rica). The lenders were represented by Greenberg Traurig (Miami Bureau) Alcogal (Panama) and Nassar Abogados (Costa Rica).
Phoenix Tower International
Phoenix Tower International was founded in 2013 with a mission to own and operate high quality wireless infrastructure sites in stable markets experiencing strong wireless usage growth around the world. Phoenix Tower International is currently focused on infrastructure expansion throughout Latin America, the Caribbean and the United States.
Phoenix Tower International is backed by well-capitalized investors that share a common vision.
The company offers collocation and network coverage through third-party and own sites for the installation of towers and other works aimed at bringing connectivity services.
The company also manages rights and rentals of real estate belonging to third parties to install own wireless infrastructure or other belonging to telecommunication services providers.
With 6,000+ sites spanning across 11 countries, Phoenix Tower International is ready to assist wireless operators with quick and cost-effective solutions as they seek to upgrade and enhance their networks.
For more information about our practices as telecommunications law firm in Panama, contact us.