Harmoni Towers Completes Landmark $620 Million Wireless Tower Private Placement Financing

Transaction Represents Largest Cell Tower Bond Issuance in the U.S.

CHARLOTTE, N.C., Nov. 4, 2025 /PRNewswire/ -- Harmoni Towers ("Harmoni"), one of the largest owners and operators of wireless communications infrastructure in the United States and a wholly owned operating company of Palistar Capital LP ("Palistar"), an alternative asset manager focused on mission-critical communications and digital infrastructure, today announced the successful completion of its inaugural $620 million 4(a)(2) private placement financing.

The transaction, which was approximately three times oversubscribed, represents the largest project finance cell tower bond issuance in the United States to date.

The notes are backed by over 1,700 high-quality macro tower sites underpinned by master lease agreements with major U.S. wireless carriers. The notes were rated as investment grade and were priced at 150bps spread above treasuries. The process garnered interest from a diverse base of bidders, many of whom are some of the largest global asset managers and insurance companies.

"This inaugural financing marks an important milestone in Harmoni's growth and our continued mission to deliver high-quality digital infrastructure across the U.S.," said Yannis Macheras, Chief Executive Officer of Harmoni Towers. "The strong investor demand and oversubscription of the issuance underscore the market's confidence in our platform, assets, and leadership team."

Jack Barry, Chief Financial Officer of Harmoni Towers, added, "This transaction provides us with financial flexibility to support continued build-to-suit expansion with our carrier partners. It's a testament to the discipline and operational excellence of the Harmoni team."

"Palistar Capital is proud to support Harmoni in this landmark transaction," said Omar Jaffrey, Founder and Managing Partner of Palistar Capital. "We believe this financing further positions Harmoni as a premier independent tower company with the scale and balance sheet to meet the growing connectivity needs of the U.S. wireless ecosystem."

"We are very pleased with this next step for Harmoni Towers," said Joshua Oboler, Investment Partner at Palistar Capital. "This achievement underscores the strength and quality of Harmoni's tower assets, and we would like to thank our carrier, banking, and lending partners for their hard work and support."

TD Securities served as sole structuring agent and lead ratings advisor, and TD Securities and Goldman Sachs served as joint lead placement agents.

About Harmoni Towers

Harmoni Towers, a portfolio company of Palistar Capital LP, owns, operates, and builds mission-critical communications infrastructure. The firm focuses on the acquisition and construction of communication networks and works with customers in a wide variety of situations, including monetizing existing assets and new site development. Harmoni collaborates with wireless operators to deploy their networks and build assets by providing the required investment capital. Harmoni Towers is one of the most active tower builders in the U.S., with well over 2,000 sites constructed or in development. For details, please visit https://harmonitowers.com.

About Palistar Capital

Palistar Capital LP ("Palistar" or the "Firm") is an alternative asset manager led by Managing Partner and Founder, Omar Jaffrey, focused on digital infrastructure investments. The Firm seeks to invest through direct asset ownership as well as by developing innovative financing solutions to complex problems for leading global digital infrastructure related companies. To learn more about Palistar, visit www.palistar.com. 

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SOURCE Harmoni Towers