The US towerco American Tower has secured a new five-year revolving credit facility that will allow it to borrow US$860m.
Subject to additional commitments, this amount could potentially be increased to US$1bn.
In a statement on Tuesday, the company said…
The US towerco American Tower has secured a new five-year revolving credit facility that will allow it to borrow US$860m.
Subject to additional commitments, this amount could potentially be increased to US$1bn.
In a statement on Tuesday, the company said that the revolver would be used for working capital needs, to finance acquisitions and for general corporate purposes both for American Tower and its subsidiaries.
It added that these “general corporate purposes” could include the repayment or repurchase of other debt and the repurchase of the company’s equity securities. Either of these activities would not require additional lender approval.
In a statement in December after it had completed a US$1bn senior bond offering, American Tower said that it was considering using US$500m for acquisitions in Latin America.
These would include additional tranches of tower purchases in Chile, Colombia and Peru.
