American Tower (AMT) Announces New $1.0 Billion Unsecured Revolving Credit Facility
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American Tower Corporation (NYSE: AMT) has entered into a loan agreement in connection with its new $1.0 billion unsecured revolving credit facility.
At closing, American Tower borrowed $700 million under this new credit facility and used the proceeds, together with $625 million in borrowings from its $1.0 billion unsecured revolving credit facility entered into in April 2011 and cash on hand, to repay all amounts outstanding and accrued interest and related fees under its existing $1.25 billion unsecured revolving credit facility (“2007 Credit Facility”) and $325 million term loan. Upon repayment, American Tower terminated the 2007 Credit Facility.
At closing, American Tower borrowed $700 million under this new credit facility and used the proceeds, together with $625 million in borrowings from its $1.0 billion unsecured revolving credit facility entered into in April 2011 and cash on hand, to repay all amounts outstanding and accrued interest and related fees under its existing $1.25 billion unsecured revolving credit facility (“2007 Credit Facility”) and $325 million term loan. Upon repayment, American Tower terminated the 2007 Credit Facility.
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