NextWave HoldCo LLC Announces $ 200 Million Debt Financing

ENCINITAS, Calif .– () – NextWave HoldCo LLC, (“NextWave”), an independent holder of 2.5 GHz wireless spectrum in major US metropolitan markets, today announced the signing of a new term loan facility $ 200 million senior guarantee (the “Term Loan”) provided by Canyon Partners, LLC. NextWave is a holding company of Solus Alternative Asset Management and Avenue Capital Group.

The proceeds of the term loan will be used to repay existing debt, provide operational financing and access capital for potential future strategic transactions.

“This funding strengthens the company’s balance sheet and demonstrates the importance of the 2.5 GHz band for 5G services,” said Frank Cassou, President and CEO of NextWave. “We look forward to the continued expansion of this band to lead high-speed wireless broadband deployments in the country’s largest metropolitan markets. ”

Craig Chobor of Solus Alternative Asset Management continued, “The transaction brings valuable financial resources to NextWave. The new capital structure with favorable debt maturities provides liquidity for working capital and the execution of growth priorities.

Moelis & Company LLC acted as placement agent for NextWave and Lowenstein Sandler LLP acted as legal counsel for NextWave.

About NextWave HoldCo LLC

NextWave HoldCo LLC is a holding company for a large portfolio of wireless spectrum. NextWave controls 20 spectrum licenses in the 2.5 GHz band comprising approximately 1.0 billion MHz-POPs. The majority of the company’s spectrum holdings are in the New York City metro market, with additional licenses covering parts of the Orange County, San Francisco, Philadelphia, Dallas and Las Vegas metro areas. The company and its team of experts and advisors have over 20 years of experience in the management and operation of wireless spectrum assets.

About Canyon Partners, LLC

Founded and partner-owned since 1990, Canyon uses a high value-added, credit-intensive approach across its investment platform. Canyon specializes in value-driven special situation investments for endowments, foundations, pension funds, sovereign wealth funds, family offices and other institutional investors. The company invests in a wide range of asset classes, including distressed loans, corporate bonds, convertible bonds, securitized assets, direct investments, real estate, arbitrage and event stocks. For more information visit: www.canyonpartners.com.

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