Brazilian telco Oi has sold another 2,007 towers raising R$1.53bn (US$644m) as it aims to tackle its debt maturities, reduce its financing costs and strengthen its liquidity.
US group SBA Communications is buying the towers through its local unit SBA…
Brazilian telco Oi has sold another 2,007 towers raising R$1.53bn (US$644m) as it aims to tackle its debt maturities, reduce its financing costs and strengthen its liquidity.
US group SBA Communications is buying the towers through its local unit SBA Torres Brasil and has agreed to lease them back to Oi on a long-term basis.
There is currently a 1.6 tenant-per-tower ratio, which includes Oi, and all of Brazil’s network operators have some presence on the network already. SBA said it will look to increase that ratio.
The transaction follows a previous sale of 2,113 towers to SBA for R$687m (US$304m) which closed at the end of November, and the disposal of another portfolio of 2,113 sites to BR Towers in September for R$502m (US$211m).
In their respective statements, Oi and SBA said they expect the latest deal to close by the end of March 2014.
