News and Updates

LexLatin coverage of Delphos’s latest deal in LatAm

Delphos International acted as the sole financial advisor to BTS Towers (“BTS”), a leading Latin American telecommunications tower operator, in obtaining $26 million in debt financing from the U.S. Overseas Private Investment Corporation (“OPIC”). The loan will be used by BTS to build over 500 cell towers in Ecuador and Peru. Through innovative deal structuring, BTS will borrow without the need to offer traditional project completion guarantees from its owners.

The transaction achieved financial close in April 2019. This is the first loan that OPIC has closed in the tower sector in Latin America. BTS builds and operates telecommunication towers under long-term contracts with leading customers in Latin America such as Claro, Telefonica and DirecTV. BTS currently operates towers in Peru, Mexico, Nicaragua and Colombia, and is backed by a prominent U.S. based emerging markets private equity fund, a U.S. family office and IFC.

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