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AMP Capital helps facilitate the construction of Australian mobile telecommunication towers through new infrastructure debt deal

By AMP Capital media team

AMP Capital today announces they have completed a $130 million senior syndicated loan facility with Stilmark Holdings Pty Ltd to support its deployment of new mobile tower infrastructure across Australia.

Stilmark is an independent Australian tower company and neutral host operator that builds, owns and operates a national portfolio of telecommunication towers, which allow mobile carriers and wireless network operators to provide network connectivity to their customers.

The debt investment will be used to support the construction of mobile towers across Australia. These new structures will help satisfy customer demand for increased mobile connectivity and data speeds, provide an expanded network footprint for mobile carriers, and contribute to the ongoing development of leading mobile network infrastructure for Australians.

AMP Capital’s Head of Infrastructure Debt Asia, Simon La Greca said: “We are delighted to announce our first debt investment with Stilmark – the communications sector has been one of the most resilient industries during Covid-19 and the delivery of communications, particularly for mobile phone towers, provides an essential service for many Australians in an industry that will only continue to grow.

“The transaction is in line with our overall strategy to provide our investors with access to low risk, long-term investments that deliver stable returns. The Stilmark investment is an emblematic deal for our team, given the business is an essential infrastructure asset in Australasia backed by long-term contracted cash flows with reputable off-takers. The telecommunications sector is also seeing strong macro trends with the advent of 5G and increased consumer data use,” said Mr La Greca.

Stilmark founder and CEO Steven Butler commented: “We are delighted to have partnered with global investors of the calibre of AMP Capital to accelerate the rollout of mobile infrastructure for our customers. The rollout of 5G this year, together with the expected mmWave spectrum auction in 2021, is driving strong demand for telecommunications infrastructure in Australia. Stilmark is ideally placed to meet this demand.”

The investment with Stilmark is AMP Capital’s latest infrastructure debt deal in the Australasian region. Earlier this year, AMP Capital announced an infrastructure debt investment with Taiwanese wind power producer Swancor.

“We recognise there is an increasing need for private sector funding of infrastructure projects to meet growing demand. AMP Capital already has a strong track record in infrastructure debt across North America and Europe and our new strategy aims help to help bridge the funding gap for infrastructure projects in Asia Pacific. We are focused on sourcing attractive investment opportunities in Asia for our global investor base in sectors including energy, transportation, utilities, and digital infrastructure” said Mr La Greca.

Since 2001, AMP Capital’s Infrastructure debt team has invested more than US$8.8 billion in 78 assets globally as at 30 June 2020.

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While every care has been taken in the preparation of this document, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) makes no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. Neither AMP Capital nor any company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this document This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This document is not intended to be and does not constitute financial advice nor a recommendation to subscribe for or purchase any investment by any person in any jurisdiction nor does it constitute an offer, solicitation or invitation to subscribe or purchase any investment in any jurisdiction where it would be contrary to the laws, regulations or directives in force or applicable in such jurisdiction.

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