Mobilitie Investments to launch $415 million credit facility Tuesday

By Sara Rosenberg

New York, May 13 - Mobilitie Investments II LLC is scheduled to hold a bank meeting on Tuesday to launch a proposed $415 million credit facility, according to a market source.

TD Securities (USA) LLC is the left lead bank on the deal.

The facility consists of a $25 million five-year revolver, a $150 million five-year delayed-draw for 24 months term loan and a $240 million six-year term loan B, the source said.

Proceeds will be used to refinance existing debt, and the delayed-draw loan is for capital expenditures.

Mobilitie Investments is a Newport Beach, Calif.-based owner and constructor of communication towers.

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