Landmark Infrastructure completes $170M securitized refinancing transaction
Landmark Infrastructure Partners announced that certain of its subsidiaries entered into a master note purchase and participation agreement pursuant to which the Issuers sold an initial $170M aggregate principal amount of 3.90% Series A Senior Secured Notes in a private placement. The Notes mature on January 14, 2027 and include an interest-only initial term of three years and, thereafter, partially amortize based on a 25-year styled mortgage. The Issuers may from time to time sell additional secured notes pursuant to the NPPA. The Partnership used the proceeds of the Notes, after deducting for transaction costs, to repay in full the Secured Tenant Site Contract Revenue Notes, Series 2016-1 Class A and Secured Tenant Site Contract Revenue Notes, Series 2016-1 Class B previously issued by the Partnership on June 16, 2016 and pay down a portion of the Partnership's current revolving credit facility balance.