TowerCo Investors Eying Dividend Recap
November 23, 2009- Share:
TowerCo is raising a $240 million credit facility from Morgan Stanley and Jefferies & Company to fund a dividend to its investors Tailwind Capital, Soros Private Equity Partners, Vulcan Capital and Altpoint Capital. The facility consists of a $40 million revolving credit facility and a $200 million term loan which will mainly be used for the dividend. TowerCo owns and leases cell towers to wireless providers.
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