Phoenix Tower International, the Boca Raton-based wireless infrastructure company, has signed a new $6.5 billion multi-jurisdiction financing package that consolidates its debt across 23 countries and positions the firm for further global expansion. The deal spans Europe, Latin America, the Caribbean and the United States, and company leaders say it marks the largest financing of its kind ever arranged for a privately held tower company.
Phoenix Tower International said it will use the new financing to consolidate existing loans and provide additional capacity for growth in both its current and new global markets, according to Inside Towers. The package includes $5.365 billion in equivalent term loan facilities, a $635 million equivalent delayed draw term loan facility, and a $500 million revolving credit facility. The company expects the financing to close by the end of September 2026, and proceeds will go toward repaying existing indebtedness and related fees, funding working capital needs, and covering capital expenditures and future acquisitions.
Company founder and Chief Executive Officer Dagan Kasavana said lender appetite for the deal reflects the discipline and vision behind PTI's growth for over a decade, adding that the financing gives the company the capital structure and flexibility to keep investing in infrastructure that connects communities worldwide. Kasavana also pointed to the strain that artificial intelligence traffic and continued data-consumption growth will place on existing network architecture, underscoring why the company is positioning itself for further buildout. Chief Financial Officer Michael Bremer said the transaction will simplify PTI's capital structure, reduce borrowing costs, and provide incremental capital for future growth, calling the $6.5 billion financing the largest of its kind for a privately held tower company in the industry.
From a Boca Raton Startup to a 23-Country Operator
Phoenix Tower International now owns and operates more than 33,000 mobile network sites and describes itself as an independent, globally active tower company offering open-access neutral-host infrastructure to all mobile network operators. The company was founded in October 2013 by Kasavana in Boca Raton, growing in under 13 years from a regional Americas platform into an operator spanning 23 countries, according to Phoenix Tower International. By December 2025 its global portfolio had grown past 22,000 sites recorded in mid-2022, driven largely by major acquisitions in France and South America.
Much of that recent growth came from Europe. In December 2025, the company completed its purchase of Infracos, a joint venture managing 3,700 wireless sites in France from Bouygues Telecom and SFR, pushing its French footprint to nearly 10,000 sites — the company's largest single market globally. That deal followed PTI's €971 million acquisition of Cellnex Ireland, which required the company to divest 300 Irish cell towers to London-based Ancala Partners in October 2025 to satisfy antitrust mandates from Ireland's Competition and Consumer Protection Commission, as reported by Silicon Republic. Regulators required the divestment to preserve wholesale mobile network competition in the country.
A Pattern of Consolidating Debt Into Bigger Facilities
This is not the first time PTI has rolled up scattered regional debt into a unified credit package. In August 2022, the company consolidated its regional debt lines into a $2.0 billion senior secured credit facility across North and South America, which financed its $930 million buyout of 3,800 Chilean tower sites from WOM S.A., with Scotiabank acting as sole lead arranger. In May 2024, PTI converted €1.2 billion of its European credit facilities into a Sustainability-Linked Loan maturing in September 2030, tying interest costs to greenhouse gas reductions and solar lighting conversions, with ING acting as sole sustainability coordinator, per ING Americas.
The company has also expanded its reach in the Caribbean and Central America. In November 2023, Liberty Latin America agreed to monetize roughly 1,300 mobile towers across Panama, Jamaica, Puerto Rico, Barbados and the British Virgin Islands by transferring them to Phoenix Tower International, alongside a build-to-suit commitment for 500 additional sites by 2029, according to filings reviewed via SEC.gov. That agreement expanded PTI's footprint across five Caribbean and Central American markets in a single stroke.
Why Investors Are Betting Big on Tower Companies
The scale of PTI's new financing lines up with a broader industry shift. Independent tower companies controlled roughly 75% of global wireless towers as of the Mobile World Congress in March 2026, up from just 25% in 2014, as mobile network operators increasingly divest passive infrastructure to lower debt and fund 5G buildouts, according to S&P Global. The global telecom tower market itself was valued at $67.87 billion in 2025 and is projected to expand to $74.94 billion in 2026, propelled by 5G coverage expansion and rising network traffic tied to artificial intelligence workloads, per Precedence Research.
PTI's ownership structure has also drawn attention from major investment firms. Blackstone acquired its initial controlling stake in the company in early 2022 from Manulife Investment Management, and by October 2023 a consortium led by BlackRock and Grain Management had entered advanced negotiations to purchase a 20% stake in PTI from Blackstone for $1.3 billion — a deal that valued the tower company at roughly $6.5 billion excluding debt, according to TelcoTitans. That earlier equity valuation lines up closely with the size of the new credit facility now being finalized.
