GTP To Launch Cell Tower Securitization February 08, 2010

--Joy Wiltermuth
Global Tower Partners is issuing $250 million in five-year commercial mortgage backed securities. The deal is 80% backed by mortgages on 1,351 wireless communication towers, as well as equity pledges by the issuer, according to a presale report from Fitch Ratings.
The transaction, Global Tower Series 2010-1, has two tranches: $200 million of A-rated bonds and $50 million of BB- rated bonds, which are slated to price mid-week. The deal marks the first new cell tower ...

--------------------------------------------------------------------------------

Subscribe Here

Request a Free Trial

Free Trial

Already Have An Account?

Email Address:

Password:

Remember me? | Forgot your password?

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.