American Tower to repay term loan, revolver borrowings via notes sale

By Wendy Van Sickle

Columbus, Ohio, Sept. 28 – American Tower Corp. plans to repay borrowings under its term loan, its revolving credit facility entered in 2013 and/or its revolver entered in 2014 with some proceeds of an offering of fixed-rate senior notes due 2022 and 2027, according to a 424B5 filed Wednesday with the Securities and Exchange Commission.

The term loan matures on Jan. 29, 2021. The 2013 credit facility matures on June 28, 2019 and includes two renewal options. The 2014 credit facility matures on Jan. 29, 2021 and also has two renewal options.

All three loan facilities currently bear interest at Libor plus 125 basis points.

Borrowings under the 2013 credit facility and the 2014 credit facility were used primarily to fund recent acquisitions.

BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Agricole CIB, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners for the notes offering, the proceeds of which may also be used for general corporate purposes.

American Tower is a telecommunications provider based in Boston.

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