Landmark gets commitments for up to $450 million restated revolver

By Sarah Lizee

Olympia, Wash., Nov. 6 – Landmark Infrastructure Partners LP obtained commitments from a syndicate of banks for an up to $450 million amended and restated five-year revolving credit facility.

Borrowings will bear interest at Libor plus a spread ranging from 175 basis points to 225 bps, based on leverage, according to a press release.

There will be a fee ranging from 15 bps to 20 bps on unused commitments.

Up to $75 million of loans under the revolver may be denominated in pounds sterling, euros, Australian dollars and Canadian dollars.

The new credit facility is arranged by SunTrust Robinson Humphrey and Citizens Financial Group and replaces the company’s existing revolver, which is scheduled to mature on Nov. 19, 2019. SunTrust Bank is the administrative agent.

Closing of the new revolver is expected this month, subject to customary closing conditions.

Landmark Infrastructure is an El Segundo, Calif.-based owner and manager of real estate leased to companies in the wireless communication, outdoor advertising and renewable power generation industries.

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