March 25, 2019 |
Phoenix Tower International (PTI) has received $72m in 10-year loans to fund acquisitions in Bolivia, with $58.5m from IDB Invest and $13.5m from the Panama-based infrastructure lender CIFI.
The Florida-based telecommunications company will use the money to buy 600 towers from the local mobile phone company Nuevatel and build new ones in Bolivia, said Aitor Ezcurra, head of the corporates division at IDB Invest.
"At first, Nuevatel will be the only mobile network operator [MNO] client for PTI,
US cell phone tower company gets $72m from IDB Invest and CIFI to buy 600 towers and build new ones