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Mobilitie Investments II to launch $600 million facility on Thursday
By Sara Rosenberg
New York, Nov. 28 - Mobilitie Investments II is scheduled to hold a bank meeting on Thursday to launch its proposed $600 million six-year credit facility, according to a market source.
GE Capital is the lead bank on the deal.
The facility consists of a $100 million revolver and a $500 million delayed-draw term loan, with both tranches talked at Libor plus 225 basis points and both carrying an unused fee of 50 bps, the source said.
Ratings are expected in the mid-BBs.
Proceeds will be used to fund the acquisition of wireless towers.
At close, senior and total leverage will be 2.8 times.
Mobilitie is a wireless infrastructure company that acquires and builds wireless towers.
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