GTA raises $146.2m to build out infrastructure in Guam
TeleGuam Holdings (GTA) announces that it has raised $146.2 million of capital that allows the company to continue to invest in telecoms infrastructure in Guam.
“We are proud of everything the GTA team has accomplished since we began our partnership in 2017,” said Paul Huntsman, president and CEO of HFI. “We are also thrilled to continue to support growth in Guam’s vibrant local community and provide Guam residents with state-of-the-art telecommunications infrastructure.”
Last month, GTA entered an agreement to amend, extend and upsize its first lien term loan. The proceeds of this transaction will enable GTA to continue to invest in infrastructure and pay off some debt.
“Since HFI’s acquisition of GTA in 2017, our management team has worked to drive growth and improve operational efficiency,” added Roland Certezam, GTA’s president and CEO. “The additional financing is a testament to our performance over the past few years and to our employees’ efforts to grow the business and enhance customer experience. We now have the ability to re-invest in numerous on-island expansion opportunities and accelerate our historical growth.”
Owned by Huntsman Family Investments, Lazard Middle Market acted as financial advisor to GTA, BNP Paribas acted as administrative agent and Latham & Watkins LLP acted as GTA’s counsel in this transaction.
Earlier this year, GTA and RTI entered into a joint venture for the construction of the Gateway Network Connections (GNC) facility. The partnership will create Guam’s first combined neutral cable landing station and data centre.
Due for completion in Q1 2020, GNC will be an 11,800 sq ft, type 3 data centre with approximately 250 racks of capacity and 2MW of power.