NextWave’s $200 Million Debt Financing

Lowenstein represented NextWave HoldCo LLC in the transaction.

NextWave HoldCo LLC (NextWave), an independent holder of 2.5 GHz wireless spectrum in major U.S. metro markets, signed a new $200 million senior secured first lien term loan facility provided by Canyon Partners, LLC. NextWave is a portfolio company of Solus Alternative Asset Management and Avenue Capital Group.

Proceeds from the loan will be used to retire existing debt, provide operational funding, and create access to capital for potential future strategic transactions.

NextWave controls 20 spectrum licenses in the 2.5 GHz band. The majority of the company’s spectrum holdings are in the New York metro market, with additional licenses covering portions of the Orange County, San Francisco, Philadelphia, Dallas, and Las Vegas metropolitan 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.

The Lowenstein team included Marita A. Makinen (Picture), Michael A. Buxbaum, Lowell A. Citron, Michael Walutes, Jacob D. Unger, and Matthew Tippy.

Involved fees earner: Michael Buxbaum – Lowenstein Sandler LLP; Lowell Citron – Lowenstein Sandler LLP; Marita Makinen – Lowenstein Sandler LLP; Matthew Tippy – Lowenstein Sandler LLP; Jacob Unger – Lowenstein Sandler LLP; Michael Walutes – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: NextWave;


Author: Ambrogio Visconti