Strategic Venue Partners (SVP),closed a new Senior Secured Credit Facility with TD Securities as lead left arranger and bookrunner on the financing. The facility will be used to fund future wireless infrastructure development with new and existing venue customers. The new commercial lending facility closed on Jan. 26, 2021.
SVP designs, builds, funds, owns, and operates distributed antenna systems, public safety systems, CBRS, WiFi, fiber, small cells, and other similar in-building wireless systems for demand driven critical infrastructure by venue owners and operators in healthcare, hospitality, commercial real estate, and education under fixed price long-term managed service agreements.
"TD Securities is pleased to have led SVP's inaugural syndicated credit facility, to help fund the company's next phase of growth," says Edward Kim, Director at TD Securities. "SVP's unique managed service enterprise offering aligns with the trend of growing wireless connectivity demand. The full lifecycle management nature of SVP's offering along with its unique structure is highly appealing and we look forward to supporting many years of successful expansion."
SVP has completed projects with leading healthcare, hospitality and retail venues across the United States. SVP recently launched state-of-the-art in-building DAS and Public Safety Systems that will improve the way healthcare staff and patients communicate at two Parkview Healthcare System facilities in northern Indiana. SVP also recently expanded its strategic partnership with Unibail-Rodamco-Westfield by upgrading the wireless infrastructure at 14 Westfield shopping centers to meet increased customer and wireless carrier demand. Additionally, Resorts World Las Vegas, the largest and newest resort and casino in Las Vegas, will feature an SVP wireless system scheduled to come online in May 2021.
"This transaction is a major milestone that will enable SVP to meet the growing demand for de-risked, long-term, managed wireless infrastructure with an efficient capital structure solution," says Justin Marron, CEO of SVP. "We look forward to the continued ability to transform wireless connectivity solutions for our customers through our unique managed service solution fueled by the confidence and financial backing of our new partners at TD Securities."