Scotiabank congratulates its clients on being recognized in the TMT M&A Awards USA 2023 for the ‘Towers Deal of the Year’ and ‘Digital Infrastructure Financing Deal of the Year.’ TMT Finance is a leading business intelligence service for M&A, investment, and financing opportunities.
Towers Deal of the Year
Phoenix Tower International (PTI) was recognized for its US$930 million acquisition of up to 3,800 Chilean telecom towers from WOM S.A.
With Scotiabank serving as Sole Advisor, Sole Lead Arranger and Bookrunner, the Bank successfully syndicated the July 2022 transaction, including US$2 billion in senior secured syndicated facilities, with participation among 23 financial institutions, making it the largest syndicated transaction in Latin America that year1. In addition, the acquisition of WOM towers garnered attention as the largest telecommunication tower transaction in Chile’s history2. It also won praise for the sophisticated and successful financing structure, amid socio-political challenges, that has transformed the digital infrastructure in Chile, by delivering sweeping 5G network access to many communities.
Digital Infrastructure Financing Deal of the Year
Garnering recognition for the Digital Infrastructure Financing Deal of the Year, Scotiabank acted as Joint Lead Arranger relating to Switch Inc., a major provider of U.S. data centres powered by renewable energy. The Bank partnered with DigitalBridge, IFM Investors and Switch founder Rob Roy in a 2022 take-private transaction, including US$6.795 billion in senior secured credit facilities to fund the acquisition and further company expansion.
With the financing being underwritten by a core group of relationship banks, and distributed to 27 banks and institutional investors, it is among several noteworthy recent lead roles Scotiabank has performed on behalf of DigitalBridge’s digital infrastructure portfolio in the U.S. and Latin America. The transaction attracted attention since it is helping Switch Inc. satisfy the exponential growth of IP traffic and multi-tenant data centre capacity across the Americas.
has acquired WOM
Chilean Tower Portfolio
for
US$930,000,000
Sole Financial Advisor
July 2022
US$6,795,000,000
Senior Credit Facility
Joint Lead Arranger
December 2022
