QMC strikes loan facility for tower investment
QMC Telecom has struck a R$150MM (£30m) loan and credit facility which it will invest in tower infrastructure
QMC Telecom, an independent owner and operator of wireless communications infrastructure in Latin America, has announced the closing of a R$150MM delayed draw credit facility and term loan between two of its Brazilian operating subsidiaries, and ING Bank N.V., Filial de Sao Paulo. The credit facility provides QMC with additional financing for new tower development and related acquisitions across the country.
QMC, which is attending this year’s Mexico Connect conference in Mexico City, develops, owns, acquires and manages rooftops, macro sites and DAS solutions in Brazil, Colombia, Puerto Rico and Mexico – operating under the names QMC Mexico and Conex in the latter.
"The closing of this groundbreaking facility in Brazil is a testament to the strong platform our management team has built over the years," stated Jose Stella QMC's Co-CEO and founder. "ING has a strong global presence in the tower industry and we are thrilled to be partnering with them as we continue to serve our clients in Brazil and expand our installed tower base," adds Rafael Somoza, also a QMC co-CEO and founder.
"Latin America is the midst of building a wireless infrastructure designed to meet the needs of the next generation of communications and technology. QMC is on the forefront of this development through its installation of new towers across Brazil and Latin America," said Valtin Gallani, Director, ING. "QMC's management team has built a unique growth platform with an impressive investor base, and we are proud to be partnered with them to extend these efforts.".