HOLLYWOOD, Fla., April 27, 2021 /PRNewswire/ -- Andean Telecom Partners ("ATP"), acting through ATP Tower Holdings, LLC, Andean Tower Partners Colombia SAS, Andean Telecom Partners Peru S.R.L. and Andean Telecom Partners Chile SpA, announced today the successful closing of US$375,000,000 aggregate principal amount of its 4.05% Senior Secured Notes due 2026 (the "Notes"), guaranteed by its subsidiaries ATP Fiber Colombia SAS, Redes de Fibra del Peru S.R.L. and ATP Fiber Chile SpA. The Notes were offered in a private placement to qualified institutional buyers in the United States in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States in accordance with Regulation S under the Securities Act.
ATP intends to use the net proceeds from the offering of the Notes to repay certain existing debt and to finance its ambitious regional growth plans across both its tower and fiber business segments.
Moody's, S&P and Fitch provided initial ratings of the Notes of Ba3, BB- and BB+, respectively. The Notes were significantly oversubscribed, attracting strong interest from a broad institutional investor base, and demonstrating recognition of ATP's resilient business model, market and industry leadership, and strong cash generation profile. Goldman Sachs & Co. LLC and J.P. Morgan acted as Global Coordinators and Joint Bookrunners, and Deutsche Bank Securities and Scotiabank acted as Joint Bookrunners.
"We are extremely excited for the future. This funding will enable us to continue investing in the strategic growth opportunities that support our valued client partners in their critical efforts to expand and modernize connectivity throughout the Andean region," said Daniel Seiner, CEO of ATP. "I'm pleased to welcome our new investors to the ATP family."
"ATP's inaugural bond placement represents an important moment in the company's history. We are proud to have received such a warm reception from the international capital markets," said Marc Ganzi, Chairman of the Board of ATP, CEO of Digital Colony, and President and CEO of Colony Capital.
This announcement is for informational purposes only. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, the related guarantees, or any other securities, nor shall there be any offer, solicitation or sale of the Notes, the related guarantees or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes and related guarantees have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.
ATP is the largest privately owned provider of telecommunications and digital infrastructure in the Andean region. ATP operates in Colombia, Peru and Chile, where it serves wireless carriers and telecom operators, playing a central role in enabling mobile and broadband connectivity in South America.
This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties.
Although forward-looking statements are based on information and assumptions that ATP believes are reasonable, they are subject to a number of factors that could cause actual results to vary materially from those expressed or implied by such forward-looking information. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. ATP undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.