QMC Telecom International secures $115 million in two credit facilities

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May 09, 2024, 15:10 ET

SAN JUAN, Puerto Rico, May 9, 2024 /PRNewswire/ -- QMC Telecom International Holdings LLC ("QMC" or the "Company"), Latin America's leading digital wireless infrastructure growth platform, announced today the successful closing of two credit facilities totaling $115 million. These two loans come on the heels of QMC Telecom do Brasil's R$1.25 billion (~$250 million) debenture offering in late December 2023.

Proceeds from these transactions will be used to support the Company's 5G network infrastructure investments and its commitment to enable connectivity in the communities where it operates.

The first credit agreement, a 4-year $50 million loan, was delivered by Deutsche Bank's US Private Credit and Infrastructure team to provide additional liquidity for growth investments in QMC's operating subsidiaries and general corporate expenses.

"Deutsche Bank is pleased to support QMC as they continue to grow. We look forward to their continued success in cell towers and digital infrastructure," said Fredric Rosenberg, Head of US Private Credit and Infrastructure.

The second credit agreement, a multi-country and multi-currency facility, was signed with IDB Invest, the private sector arm of the Inter-American Development Bank Group, and Société de Promotion et de Participation pour la Coopération Economique S.A. ("Proparco"), a private sector lender of the French government. The agreement is an extension of the existing $49 million facility signed with IDB Invest in 2021, plus an additional $16 million commitment from Proparco, totaling $65 million. The senior loans with a 2-year delayed draw component and a total tenor of 9 years will support QMC's infrastructure investments in Mexico, Colombia, and Peru.

"Together with IDB Invest, which is leading the transaction, Proparco is very proud to participate in financing the 2024-2025 investment program of QMC, a leading digital wireless infrastructure company in Latin America. By developing neutral, open, and pooled infrastructures, QMC is offering more accessible and affordable digital services in Latin America, helping to bridge the digital gap in the region," commented Françoise Lombard, CEO of Proparco.

"Our partnership with QMC reinforces our commitment to developing sustainable connectivity in Latin American countries. We will be relentlessly focused on bridging the region's most critical gaps, collaborating with the private sector, and attracting institutional investors to areas that have the greatest development impact," said Guillermo Foscarini, Director and Division Chief of Corporates (a.i.) of IDB Invest.

"The combination of these two multi-jurisdiction credit facilities provides QMC with the necessary flexibility to continue growing our digital wireless infrastructure platform in Latin America. We remain committed to our vision of fostering growth, enabling connectivity, and solving client needs as we stay focused on our mission to be the indispensable partner in 5G network densification," said Rafael Somoza, QMC's CEO & Co-Founder.

"These financings highlight QMC's 12-year track record of uninterrupted profitable growth and disciplined capital allocation, as well as the breadth and depth of our capital market access even in difficult macro environments," said Ricardo Zubieta, QMC's Chief Financial Officer. "We are delighted to welcome Proparco and Deutsche Bank as investors in QMC and to continue our partnership with IDB Invest."

White and Case LLP served as legal counsel to Deutsche Bank, and Sidley Austin LLP as QMC's legal counsel. For the Mexico, Colombia, and Peru loans, Morrison and Foster LLP acted as lead legal counsel for IDB Invest and Proparco, and Locke Lord LLP served as QMC's lead legal counsel.

About QMC Telecom International Holdings LLC

Founded in San Juan, Puerto Rico, in 2011, QMC is an independent multinational owner and operator of digital wireless infrastructure. The Company develops, owns, acquires, and manages rooftops, macro sites, indoor DAS, and Street Level Solutions in Brazil, Colombia, Mexico, Peru, and Chile. Internationally renowned investors back QMC in partnership with management, including Accel Partners, Housatonic Partners, Quadrant Capital Advisors, and TTCER Partners.

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About Proparco

PROPARCO, a subsidiary of Agence Française de Développement Group, has been working with the private sector for over 45 years for a more just and sustainable world. With an international network of 23 local offices, PROPARCO works closely with its partners to build sustainable solutions in response to environmental and social challenges in Africa, the Middle East, Asia, and Latin America. PROPARCO benefits from sector-based expertise as well as a wide range of financial solutions tailored to the different stages of business development, notably thanks to its Digital Africa subsidiary and its Propulse technical assistance offering designed to scale up the impacts and performance of its partners. PROPARCO's new "Acting together for greater impact" Strategy 2023-2027 enables, strengthens, and amplifies the different ways it works with its partners. To learn more: PROPARCO.fr/en/strategy.

About Deutsche Bank

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

SOURCE QMC Telecom International