SpectraSite amends loan to allow for American Tower merger, increase maximum leverage ratio

By Sara Rosenberg

New York, July 25 - SpectraSite Communications Inc. amended its $900 million senior secured credit facility, allowing for the completion of the American Tower Corp. merger and increasing the maximum leverage ratio (see table), according to an 8-K filed with the Securities and Exchange Commission Monday.

The amendment was completed on Friday.

Toronto Dominion is the administrative agent on the deal.

SpectraSite is a Cary, N.C.-based wireless tower operator.

Amended maximum leverage ratio

Quarters ending Ratio

First amendment effective date through Sept. 30, 2006 5.50 to 1.00

Oct. 1, 2006 through Sept. 30, 2007 5.25 to 1.00

Oct. 1, 2007 through Sept. 30, 2008 5.00 to 1.00

Oct. 1, 2008 through Sept. 30, 2009 4.75 to 1.00

Oct. 1, 2009 and thereafter 4.50 to 1.00

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