Strategic Wireless Secures up to $75,000,000 Credit Facility with Texas Capital Bank
April 21, 2020
COSTA MESA, Calif.–(BUSINESS WIRE)–Strategic Wireless Infrastructure Funds Management, LLC (“Strategic Wireless” or the “Company”) today announced it has secured a syndicated credit facility led by Texas Capital Bank for SWI Funds Property Holdings, LLC and other affiliated companies. The credit facility includes an accordion which will allow the Company the ability to access up to $75,000,000 throughout the term of the agreement. The Company believes the credit line will significantly enhance its ability to continue acquiring and developing a diversified portfolio of telecommunications infrastructure assets within the U.S.
The syndication, led by Texas Capital Bank headquartered in Dallas, Texas, includes a number of other lenders with extensive backgrounds in lending within the telecommunications sector. The new credit facility will provide Strategic Wireless greater flexibility to capitalize on the growing number of infrastructure opportunities throughout the U.S.
“We appreciate the confidence and commitment that Texas Capital Bank and each of the other banking partners have made to our company,” said Jerry Sullivan, chief executive officer of Strategic Wireless. “Such a commitment in the early stages of our growth speaks volumes to the opportunities in the telecom infrastructure arena as well as to the confidence in our management team’s ability to execute on our strategy.” Sullivan added, “While we will continue to exercise discipline in all of our acquisition and development opportunities, this facility will allow us to execute our business strategy at a faster pace, giving us leverage in an industry where timing is critical.”
