SAN JUAN, Puerto Rico,
May 9, 2024 /PRNewswire/ -- QMC
Telecom International Holdings LLC ("QMC" or
the "Company"), Latin America's leading digital
wireless infrastructure growth platform, announced today the
successful closing of two credit facilities totaling $115 million. These two loans come on
the heels of QMC Telecom do Brasil's R$1.25 billion
(~$250 million) debenture offering in
late December 2023.
Proceeds from these transactions will be used to
support the Company's 5G network infrastructure
investments and its commitment to enable connectivity in the
communities where it operates.
The first credit agreement, a 4-year $50
million loan, was delivered
by Deutsche Bank's US Private Credit and
Infrastructure team to provide additional liquidity for growth
investments in QMC's operating subsidiaries and general
corporate expenses.
"Deutsche Bank is pleased to support QMC as they continue to
grow. We look forward to their continued success in cell towers and
digital infrastructure," said Fredric
Rosenberg, Head of US Private Credit and Infrastructure.
The second credit agreement, a multi-country and multi-currency
facility, was signed with IDB Invest, the private sector arm of the
Inter-American Development Bank Group, and Société de Promotion et
de Participation pour la Coopération Economique
S.A. ("Proparco"), a private sector lender of the French
government. The agreement is an extension of the existing
$49 million facility signed with IDB
Invest in 2021, plus an additional $16
million commitment from Proparco, totaling $65 million. The senior loans with a 2-year
delayed draw component and a total tenor of 9 years will
support QMC's infrastructure investments in Mexico, Colombia, and Peru.
"Together with IDB Invest, which is leading the
transaction, Proparco is very proud to participate in financing the
2024-2025 investment program of QMC, a leading digital wireless
infrastructure company in Latin
America. By developing neutral, open, and pooled
infrastructures, QMC is offering more accessible and affordable
digital services in Latin America,
helping to bridge the digital gap in the region," commented
Françoise Lombard, CEO of Proparco.
"Our partnership with QMC reinforces our commitment to
developing sustainable connectivity in Latin American countries. We
will be relentlessly focused on bridging
the region's most critical gaps, collaborating with the
private sector, and attracting institutional investors to areas
that have the greatest development impact," said Guillermo Foscarini, Director and Division Chief
of Corporates (a.i.) of IDB Invest.
"The combination of these two multi-jurisdiction credit
facilities provides QMC with the necessary flexibility to continue
growing our digital wireless infrastructure platform in
Latin America. We remain committed
to our vision of fostering growth, enabling connectivity, and
solving client needs as we stay focused on our mission to be the
indispensable partner in 5G network densification," said
Rafael Somoza, QMC's CEO & Co-Founder.
"These financings highlight QMC's 12-year track record
of uninterrupted profitable growth and disciplined capital
allocation, as well as the breadth and depth of our capital market
access even in difficult macro environments," said Ricardo
Zubieta, QMC's Chief Financial Officer. "We are
delighted to welcome Proparco and Deutsche Bank as investors in QMC
and to continue our partnership with IDB Invest."
White and Case LLP served as legal counsel to Deutsche Bank, and
Sidley Austin LLP as QMC's legal counsel. For the
Mexico, Colombia, and Peru loans, Morrison and Foster LLP acted as
lead legal counsel for IDB Invest and Proparco, and Locke Lord LLP
served as QMC's lead legal counsel.
About QMC Telecom International Holdings LLC
Founded in San Juan, Puerto
Rico, in 2011, QMC is an independent multinational owner and
operator of digital wireless infrastructure. The Company develops,
owns, acquires, and manages rooftops, macro sites, indoor DAS, and
Street Level Solutions in Brazil,
Colombia, Mexico, Peru,
and Chile. Internationally
renowned investors back QMC in partnership with management,
including Accel Partners, Housatonic Partners, Quadrant Capital
Advisors, and TTCER Partners.
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank
Group, is a multilateral development bank committed to promoting
the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB
Invest finances sustainable companies and projects to achieve
financial results and maximize economic, social, and environmental
development in the region. With a portfolio of $21 billion in assets under management and 394
clients in 25 countries, IDB Invest provides innovative financial
solutions and advisory services that meet the needs of its clients
in a variety of industries.
About Proparco
PROPARCO, a subsidiary of Agence Française de Développement
Group, has been working with the private sector for over 45 years
for a more just and sustainable world. With an international
network of 23 local offices, PROPARCO works closely with its
partners to build sustainable solutions in response to
environmental and social challenges in Africa, the Middle
East, Asia, and
Latin America. PROPARCO benefits
from sector-based expertise as well as a wide range of financial
solutions tailored to the different stages of business development,
notably thanks to its Digital Africa subsidiary and its Propulse
technical assistance offering designed to scale up the impacts and
performance of its partners. PROPARCO's new "Acting
together for greater impact" Strategy 2023-2027 enables,
strengthens, and amplifies the different ways it works with its
partners. To learn more: PROPARCO.fr/en/strategy.
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail
banking, transaction banking and asset and wealth management
products and services to corporations, governments, institutional
investors, small and medium-sized businesses, and private
individuals. Deutsche Bank is Germany's leading bank,
with a strong position in Europe
and a significant presence in the Americas and Asia Pacific.
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SOURCE QMC Telecom International