The Firm represented the initial purchasers in connection with the offering by ATP Tower Holdings, LLC (“ATP”) and certain of its subsidiaries as co-issuers of an aggregate principal amount of US$500 million of its 7.875% Senior Secured Notes due 2030. The notes are secured by the pledge of the common stock of the subsidiary co-issuers. The notes were offered and sold in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, and are expected to be listed on the Official List of the Irish Stock Exchange trading as Euronext Dublin.
The Firm also represented the dealer managers, in connection with an any-and-all cash tender offer for ATP’s outstanding 4.05% Senior Secured Notes due 2026.
The Firm further represented The Bank of Nova Scotia, as administrative agent, and the lenders in connection with the amendment and restatement of ATP’s $120 million senior secured revolving credit facility. The revolving credit facility benefits from the same collateral as the notes.
The net proceeds from the offering of the notes were used to pay the consideration under the concurrent cash tender offer, repay obligations under certain other existing indebtedness of ATP and its subsidiaries and pay fees and expenses relating to the transactions, and for general corporate purposes.
ATP is among the largest privately-owned providers of wireless communication infrastructure in the Andean region, operating in Chile, Colombia and Peru, in terms of number of towers. ATP owns and operates more than more than 4,400 tower sites and approximately 11,500 kilometers of fiber networks in the Andean region.
The Simpson Thacher team included Juan Francisco Mendez, Kirsten L. Davis, Doug Ogata and Santiago Osorio (Capital Markets and Banking and Credit); and Jonathan E. Cantor and Preston Irace (Tax).