BALA CYNWYD, Pa.–(BUSINESS WIRE)–Radius Global Infrastructure, Inc. (NASDAQ: RADI) (“Radius” or the “Company”) today announced that AP WIP Holdings, LLC, a subsidiary of Radius, has entered into a subscription agreement with a multinational finance and insurance company, providing a loan of up to $165 million (the “Facility”). Radius will use the proceeds from this new facility to repay all of its outstanding obligations under an existing credit facility secured by the Company’s domestic land lease assets, which was scheduled to mature in 2023. Radius expects to use capital remaining for ongoing land acquisition asset rental as well as general working capital purposes. The fixed rate coupon under the facility is 3.64% per annum, with an expected maturity of five years from the closing date of April 21, 2022, based on a cash interest rate of 4 .25% under the previous credit facility. Concurrent with the closing of the transaction, the Company received an “A” rating from Fitch for the facility, which has a leverage cap of 9.75x annual qualifying cash flow.
About the company
Radius Global Infrastructure, Inc., through its various subsidiaries, is a multinational owner and acquirer of triple net lease streams and leased real estate to wireless carriers, cable carriers, wireless tower companies and other digital infrastructure operators as part of their infrastructure needed to provide a wide range of services.
For more information see https://www.radiusglobal.com.