American Tower to pay down loans due 2020, 2022 via new notes issue

By Susanna Moon

Chicago, June 27 – American Tower Corp. plans to repay its credit facility due June 28, 2020 and its credit facility due Jan. 31, 2022 using proceeds of a new issue of notes.

Interest on loans is Libor plus 125 basis points, and the terms for each facility allow for two renewal options.

American plans to price dollar-denominated senior notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds also will be used for general corporate purposes.

American Tower is a telecommunications provider based in Boston.

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