Harmoni Towers Secures Landmark $620 Million Financing for Expansion

New updates have been reported about Harmoni Towers (PC:HARMO)

Harmoni Towers, a major player in the U.S. wireless communications infrastructure sector, has successfully completed a significant $620 million private placement financing. This transaction marks the largest project finance cell tower bond issuance in the United States to date, highlighting Harmoni’s strategic growth and robust market position. The financing was notably oversubscribed, attracting substantial interest from global asset managers and insurance companies, underscoring investor confidence in Harmoni’s platform and leadership.

The notes, backed by over 1,700 macro tower sites with master lease agreements from leading U.S. wireless carriers, were rated investment grade and priced at a 150 basis points spread above treasuries. CEO Yannis Macheras emphasized the milestone’s importance in advancing Harmoni’s mission to deliver high-quality digital infrastructure nationwide. CFO Jack Barry highlighted the financial flexibility this transaction provides, enabling continued expansion efforts with carrier partners. Supported by Palistar Capital, Harmoni’s parent company, this financing positions Harmoni as a premier independent tower company poised to meet the growing connectivity demands of the U.S. wireless ecosystem. TD Securities and Goldman Sachs played key roles as structuring and placement agents in this landmark transaction.