Tower firm Tillman Infrastructure has secured a financing package worth $1 billion.
The company stated that the funding will be used to refinance existing loans and provide additional growth capital to support its wireless carrier and wireless infrastructure service provider (WISP) customers' infrastructure needs.
"The Tillman Infrastructure team continues to deliver industry-leading solutions for our customers," said Suruchi Ahuja, CEO of Tillman Infrastructure. "We are very pleased to have support to further invest in and grow the business."
Founded in 2016, New York-based Tillman owns and manages over two thousand macro tower sites, with several thousand more in development.
The company is part of Tillman Global, a private investment firm that invests in, owns, and operates digital and energy infrastructure businesses.
Tillman noted that as part of the transaction, it has entered into a $500 million term loan facility with a syndicate of lenders arranged by JPMorgan Chase Bank, N.A. and including, Crédit Agricole Corporate and Investment Bank, Banco Santander, CoBank ACB, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation.
The company has also received financing of $500 million from affiliates and managed funds of HPS Investment Partners, LLC, Apollo, and Oak Hill Advisors, L.P.
Last year, the company's fiber subsidiary, Tillman FiberCo, announced a strategic partnership with private investment firm Northleaf Capital Partners, worth $500 million.
In 2022, Tillman Holdings, which is also part of Tillman Global, signed a $1 billion deal with private equity firm Carlyle to ramp up its investment in independent cell tower company Tillman Infrastructure.
