US towerco American Tower has agreed a US$750m unsecured five-year term loan credit facility at Libor plus 1.75%, with the bulk of the proceeds to be used to repay existing debts.
American Tower will use US$632m from the loan to repay existing…
US towerco American Tower has agreed a US$750m unsecured five-year term loan credit facility at Libor plus 1.75%, with the bulk of the proceeds to be used to repay existing debts.
American Tower will use US$632m from the loan to repay existing indebtedness under its US$1bn unsecured revolving credit facility taken out in January, while the rest will be used for general corporate purposes.
The towerco said that now it has the capacity to borrow an aggregate of approximately US$2bn with its revolving credit facilities, net of any outstanding letters of credit.
Royal Bank of Scotland acted as administrative agent, Royal Bank of Canada and TD Securities were the co-syndication agents, JPMorgan Chase Bank and Morgan Stanley acted as co-documentation agents, RBS Securities, RBC Capital Markets and TD Securities acted as joint lead arrangers and joint bookrunners, J.P. Morgan and Morgan Stanley as joint bookrunners, and lenders that are signatories thereto.
