EL SEGUNDO, Calif., Jan. 16, 2020 (GLOBE NEWSWIRE) -- Landmark Infrastructure Partners LP (the “Partnership”) (NASDAQ: LMRK) today announced that certain of its subsidiaries (the “Issuers”) entered into a master note purchase and participation agreement (the “NPPA”) pursuant to which the Issuers sold an initial $170 million aggregate principal amount of 3.90% Series A Senior Secured Notes (the "Notes") in a private placement. The Notes mature on January 14, 2027 and include an interest-only initial term of three years and, thereafter, partially amortize based on a 25-year styled mortgage. The Issuers may from time to time sell additional secured notes pursuant to the NPPA.
The Partnership used the proceeds of the Notes, after deducting for transaction costs, to repay in full the Secured Tenant Site Contract Revenue Notes, Series 2016-1 Class A and Secured Tenant Site Contract Revenue Notes, Series 2016-1 Class B previously issued by the Partnership on June 16, 2016 and pay down a portion of the Partnership’s current revolving credit facility balance.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Note or any other security. The Note has not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and the securities laws of any state or any other jurisdiction.
Cautionary Note Regarding Forward Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2018, as supplemented by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. Any forward-looking statements in this press release are made as of the date of this press release and the Partnership undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Partnership becomes aware, after the date hereof, unless required by law.
About Landmark Infrastructure Partners LP
The Partnership owns and manages a portfolio of real property interests and infrastructure assets that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries.
