NORWALK, Conn.--(BUSINESS WIRE)--GE Commercial Finance’s Media, Communications & Entertainment business today announced it has provided a $425 million senior secured credit facility to Mobilitie, the owner of telecommunications towers located across the United States and a portfolio company of Oaktree Capital Management. GE – Media, Communications & Entertainment served as administrative agent and GE Capital Markets acted as joint bookrunner and joint lead arranger with TD Securities for the facility. The facility will be used to support the acquisition of additional towers and deployment of other wireless infrastructure assets.
“One of our goals is to constantly innovate in the development of telecommunications infrastructure,” said Gary Jabara, President and CEO, Mobilitie. “Reaching this goal requires us to work with experienced financiers, like GE – Media, Communications & Entertainment, whose industry knowledge complements Mobilitie’s deep wireless expertise and continued aggressive growth.”
As the premier owner and lessor of infrastructure assets to global telecommunications companies, Mobilitie assists wireless carriers to preserve capital while accelerating network development. With communication towers in all 50 states, Mobilitie has one of the largest portfolios of towers that are designed to support multiple carrier installations.
“Mobilitie is in a dynamic business environment that requires continued growth capital to allow the company to meet the infrastructure needs of its wireless clients,” said Michael Chen, President and CEO for GE’s Media, Communications & Entertainment business. “As we continue to provide flexible financing solutions in this market, we are thrilled to have provided Mobilitie a financing package that supports the company’s growth rates and business model.”
About GE Commercial Finance – Media, Communications & Entertainment
With nearly $10 billion in assets and offices in Atlanta, Chicago, Hong Kong, London, Los Angeles, Munich, New York, Norwalk (HQ), San Francisco, Singapore and Toronto, the Media, Communications & Entertainment business is a global strategic partner to these industries and the technologies that enable them. We bring GE’s full resources and financial strength to each relationship, while delivering industry expertise and flexible financing solutions that maximize stakeholder value. www.geMCE.com
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $300 billion and is headquartered in Norwalk, Connecticut. GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.