Hibernian Towers has been refinanced
Founded in 2005 and headquartered in the Republic of Ireland, founder-owned Hibernian Towers controls and operates a portfolio of approximately 140 transmission sites for the wireless and broadcast industries across the Republic of Ireland, Northern Ireland and the mainland UK. Hibernian Towers owns, manages and develops high-capacity telecommunications towers, and licenses antenna space to the full spectrum of telecom and broadcast operators. The company has expanded its network of towers and sites through acquisitions of smaller tower companies and tower build projects since its inception.
The transaction will further support Hibernian Towers in executing its growth plans, with new institutional capital and a consolidation of its credit lines, giving both flexibility and resources for the management team to drive further growth in their core Irish market and to continue scaling internationally.
Xenia Sarri, Managing Director in Lincoln’s London office, commented, “Tower operators have had an incredibly active couple of years as investors have sought to capitalize on underlying mobile, data or connected device trends. Lenders are no exception and are particularly attracted to their strong credit profiles, underpinned by predictable cash flows. The founders of Hibernian Towers have done an outstanding job building and growing an attractive portfolio of sites, and we are pleased to have partnered them with a lender who recognizes this and is committed to supporting their future plans.”
We are really grateful to the whole Lincoln team for all their support on this complex transaction. The refinance is a major step forward in the growth story of our business, and Lincoln’s experience was invaluable in approaching the market and also negotiating and securing a deal that correctly fits our needs.
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