Global Tower Partners Gets $60 million Regional Loan

Eight banks have provide to a Costa Rican subsidiary with its first Latin American syndicated loan to finance the construction of two cell phone towers.

Tuesday, April 24, 2012

"The operation involved Citibank, Banco General, Banco G & T Continental, Corpbanca, MetroBank, RBC Merchant Bank (Caribbean) Limited and Towerbank International. Additionally, Improsa Bank acted as trustee," reported

GTP Torres CR is a subsidiary of Global Tower Partners. Citibank was entity structuring the regional operation through the signing of an International Banking Facility, a $60 million syndicated loan financing the first cellular tower in Latin America.

GTP is the fourth largest independent tower operator in the United States and the largest operator of private capital towers. It owns, manages or leases15,000 wireless sites, including 6,400 towers in the United States, Mexico and Costa Rica.

More on this topic

$120 million in Financing for Cell Towers

July 2012

The Guatemalan company Continental Towers will receive funding from the International Finance Corporation to build and maintain cell towers in Central America.

According to an article in, "The IFC's investment includes a loan of $40 million and a syndicated loan of $80 million with Banco HSBC Panamá, Banco General de Panamá, the Dutch Entrepreneurial Development Bank (FMO) and the Inter American Corporation for Infrastructure Financing. "

Banco G & T Acquires Citi Guatemala Portfolio

December 2011

G & T Continental has acquired, at $64 million, Citibank de Guatemala’s housing portfolio.

Flavio Montenegro, general manager of G & T Continental, said the payment was in cash and Citibank de Guatemala has already handed over the records of the respective accounts.

For its part, Crista Kepfer, public relations officer of Citibank, told,"The decision was made to sell the FHA mortgage portfolio as part of Citi's strategy of focusing on a global scale in other banking segments and using those resources to invest in other lines of business. "

Multi-million-dollar loan for Honduran company

April 2008

The Banco Financiera Comercial Hondureña S.A. (Ficohsa) and Guatemala's Banco GT Continental, together with several local banks, including Atlántida, BAC-Bamer, GTC Bank, Banco Aliado and Tower Bank, have put together a syndicated loan of 77 million dollars for Corporación Dinant.

The funds will be used for investment in plant and agro-industry. Surplus funds will be used for publicity and marketing.

Liquidity, Liquidity, Liquidity

May 2009

Profitability drops as asset liquidity increases, but liquidity is what ensures the life of the banking business and their customers' money.

Panamanian banks have not used the extra funds that the financial incentive program (PEF) made available to them in order to stimulate lending. In addition, it must be considered that said funds are very expensive, and they have simply not been needed.

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