Phoenix Tower International (PTI), a global wireless communications infrastructure provider, has taken a significant step towards sustainability with the conversion of €1.2 billion credit facilities into a Sustainability-Linked Loan (SLL). This move supports PTI’s growth in delivering critical and energy-conscious tower infrastructure to markets worldwide. This SLL, maturing in September 2030, is a key milestone in PTI’s sustainability journey and includes three important performance indicators to measure progress.
As part of this landmark deal, ING acted as the joint mandated lead arranger, bookrunner, and sole sustainability coordinator. The SLL is structured in alignment with the Sustainability-Linked Loan Principles as governed by industry associations. PTI’s CEO, Dagan Kasavana, highlighted the company’s commitment to providing wireless infrastructure in an environmentally friendly manner and leading the industry in sustainability practices.
ING, a major player in supporting clients in the Digital Connectivity space, commended PTI for linking financing to material KPIs and expanding its sustainability initiatives. This move sets a new standard in the tower infrastructure sector and demonstrates PTI’s dedication to environmental sustainability. The CFO of PTI, Michael Bremer, emphasized the importance of setting high standards for the industry and communities where PTI operates.
PTI, founded in 2013, owns and operates over 25,000 towers across Europe, North America, Latin America, and the Caribbean. The company is a premier site provider to wireless operators in high-growth markets. Investors include prominent firms like Blackstone, BlackRock, and WrenHouse. PTI’s headquarters are based in Boca Raton, Florida.
ING Americas, the wholesale business of global financial services company ING, supports sustainability as a core part of its strategy. ING’s ESG ratings affirm its strong focus on environmental, social, and governance factors. ING Americas offers a range of financial products and services, including commercial lending and corporate finance, to clients across the Americas region.
Overall, PTI’s move towards a Sustainability-Linked Loan signifies its commitment to sustainable practices in the wireless infrastructure sector. By setting high standards and linking financing to key performance indicators, PTI is not only leading the industry but also contributing positively to environmental sustainability efforts. For more information on Phoenix Tower International and its sustainability initiatives, visit their website.
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