Torrecom secures long-term debt with DFIs to expand its towers footprint in Latin America

Torrecom is renowned for its technical expertise and in-depth knowledge of local markets. It focuses on new tower development (BTS) and the acquisition and upgrade of existing towers to provide Mobile Network Operators with state-of-the-art wireless infrastructure. With this over USD100 million development plan, the project directly contributes to increase the reach and the quality of mobile connectivity in the entire region. 

Proparco, Torrecom’s financing partner since 2017, served as lead arranger alongside IDB Invest and DEG. The new financing encompasses all Torrecom activities, including its subsidiaries in 10 countries (Mexico, Guatemala, El Salvador, Nicaragua, Panama, Colombia, Ecuador, Peru, Paraguay and Chile).  

Maria Scotti, CEO of Torrecom remarked; “Proparco has provided secured debt financing to Torrecom since 2017 in support of its growth in Central America.  We are extremely proud of our longstanding relationship with Proparco and the confidence they have shown in our team to meet our capital needs and increase our funding by adding IDB/Invest and DEG as lenders to support our continued growth throughout all our markets spanning ten countries from Mexico to Chile."



Djalal Khimdjee, deputy-CEO of Proparco commented, “Proparco has been backing Torrecom in Nicaragua and Guatemala since 2015 and we are proud to see how this talented team has been able to expand its tower footprint across ten countries. Adding IDB Invest and DEG in Torrecom’s pool of Lenders is a recognition of the dedication and professionalism of this team. Torrecom has built over 1000 new telecom towers, contributing to more accessible and more affordable digital services in Latin America.” 



Aitor Ezcurra,  Chief Investment Officer at IDB Invest, added, “IDB Invest has been supporting Torrecom as a shareholder since 2015 and we are pleased to extend our partnership with Torrecom as lender. This project strengthened IDB Invest’s commitment to improving the levels of mobile connectivity and digital adoption to boost the development in the region."



Andreas Cremer, Director of DEG Infrastructure Latin America and Africa added, “It is a great pleasure for DEG to be part of the Torrecom growth story. Torrecom has been an important player in BTS in Latin America and the expansion program will further improve mobile coverage and digital inclusion. We are also pleased to deepen our relationship with Proparco, which is leading the transaction, and our financing partner IDB Invest."

About Torrecom

Torrecom: Founded in 2010, is one of the leading independent tower companies in Latin America with a portfolio of over 1,400 wireless infrastructure sites across Mexico, Guatemala, El Salvador, Nicaragua, Panama, Colombia, Ecuador, Peru, Paraguay and Chile.  Torrecom continues to grow in the region through new tower and distributed antenna system development (BTS) for wireless carriers as well as opportunistic, value-added acquisitions of   existing infrastructure portfolios.  Torrecom’s management team has well over 100 years of experience with  both tower company and carrier backgrounds. Torrecom is headquartered in Weston, FL with local offices in each of the ten countries in which it operates.

About Proparco

Proparco, a subsidiary of Agence Française de Dévelopement Group, has been working with the private sector for over 45 years for a more just and sustainable world. With an international network of 23 local offices, Proparco works closely with its partners to build sustainable solutions in response to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco benefits from sector-based expertise as well as a wide range of financial solutions tailored to the different stages of business development, notably thanks to its Digital Africa subsidiary, and its Propulse technical assistance offering designed to scale up the impacts and performance of its partners.

Proparco's new "Acting together for greater impact” Strategy 2023-2027 enables, strengthens and amplifies the different ways in which it works with its partners.

To learn more: http://www.proparco.fr/en/strategy.

For more information, go to: http://www.proparco.fr/en and @Proparco LinkedIn

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $16.33 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About DEG

For more than 60 years, DEG has been financing and advising private enterprises operating in developing and emerging-market countries. With a portfolio of around EUR 9.9 billion we’re one of the world’s largest private-sector development financiers. As an impact and climate investor we accompany companies that are addressing transformation and aiming to seize their opportunities. Our customers not only receive financing and advisory solutions tailored to their needs: they can build on our market knowledge, our impact and climate expertise and our international network. In this way, DEG, a subsidiary of KfW, contributes to creating more skilled jobs and local income and to improving value creation on the ground in line with the SDGs.  

Learn more: www.deginvest.de