Wireless communications infrastructure company Vertical Bridge announced this week that it has successfully issued $1.94 billion of tower revenue notes.

The offering, led by Barclays as the structuring agent, is Vertical Bridge's 11th asset-backed securities (ABS) financing by the company since 2016.

To secure the issuance, Vertical Bridge bundled 10,425 towers as collateral to raise $1.94bn ABS across all 50 states, Puerto Rico, and Washington D.C.

“The success of our 2026-1 issuance reflects the strength, stability, and continued growth of Vertical Bridge’s platform,” said Ron Bizick, president and CEO.

“Achieving the largest ABS transaction in our company’s history, and the largest tower ABS issuance ever, demonstrates the trust investors place in our portfolio, our performance, and our long-term strategy.”

According to Vertical Bridge, the final order book included 78 unique investors who placed orders across the four classes of notes, including 41 new investors to the Vertical Bridge ABS platform.

The company claims that the ABS is the largest-ever issuance in the tower sector.

Vertical Bridge REIT, LLC, is the largest private owner and operator of wireless communications infrastructure in the US and has a nationwide portfolio of more than 18,000 towers.

Last year, the company completed its $3.3bn acquisition of more than 6,000 towers from Verizon.

DigitalBridge completed the acquisition of a controlling stake in the company in 2021, while La Caisse de dépôt et placement du Québec is also a significant investor in the group. Japan's SoftBank agreed to buy DigitalBridge for $4bn in late December.