ExteNet preps first ever small cell wireless deal

telecoms tower
By Jennifer Kang
19 Jun 2019

Wireless network provider ExteNet is preparing an inaugural $443m securitization backed by small cell tower revenues, the first such deal to be backed by distributed network systems (DNS).

The $75m class ‘A’ and $263m class ‘A-2’ notes were assigned an A- rating by Kroll Bond Rating Agency. The ‘A’ notes will be variable funding notes at closing. The ‘B’ tranche was rated BBB-, while the ‘C’ tranche was rated BB- by Kroll. Barclays is the sole ...

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