Radius Global Infrastructure Completes Debt Refinancing
Radius Global Infrastructure, Inc. (RADI)
Company Research
Source: Business Wire
BALA CYNWYD, Pa.--(BUSINESS WIRE)--Radius Global Infrastructure, Inc. (NASDAQ: RADI) (“Radius” or the “Company”) announced today that AP WIP Holdings, LLC, a Radius subsidiary, has entered into a subscription agreement with a multinational finance and insurance company, providing for a loan of up to $165 million (the “Facility”). Radius will use the proceeds of this new facility to repay all its outstanding obligations under an existing credit facility secured by the Company’s domestic ground lease assets, which was scheduled to mature in 2023. Radius expects to use the remaining capital for the continued acquisition of ground lease assets as well as for general working capital purposes. The fixed rate coupon under the Facility is 3.64% per annum, with a scheduled maturity of five years from the closing date of April 21, 2022, compared to a cash pay interest rate of 4.25% under the previous credit facility. Concurrent with the closing of the transaction, the Company received an ‘A
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