Unison priced a $147 million cellular tower securtization today, according to a person familiar with the transaction.

Unison Ground Lease Funding 2013-1 notes are backed by 612 cellular tower sites with 642 structures leased to 784 cellular tower tenants, according to the report. The notes are interest only until the anticipated repayment date, March 15, 2020.

The deal consists of four tranches, all of which have a weighted average life of 6.98 years.

The $98 million Class 2013-1 A, which is rated 'A' by Fitch Ratings, has a coupon of 2.981% and was priced to yield 3%, according to the person familiar with the transaction.

The $31 million Class 2013-1 B, which is rated 'BB-', has a coupon of 5.780% and was priced to yield 5.85%.

Two other tranches were used to fund a special account to be used for future cell tower acquitisions. The are as-yet unrated. The $13.6 million Class 2013-2 A has a coupon of 3.721% and was priced to yield 3.75%. The $4.4 million Class 2013-2 B has a coupon of 6.268% and yields 6.35%.

Deutsche Bank is the lead underwriter, according to Fitch's presale report.

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