American Tower has announced plans to raise US$1bn to refinance existing debt.
The acquisitive US towerco is looking to secure a five-year unsecured revolver to replace a current US$1bn unsecured credit facility, which it entered into in 2011. That…
American Tower has announced plans to raise US$1bn to refinance existing debt.
The acquisitive US towerco is looking to secure a five-year unsecured revolver to replace a current US$1bn unsecured credit facility, which it entered into in 2011. That facility was set to mature in 2016.
The Boston-headquartered company did not disclose the banks working on the financing.
This facility marks the towerco’s third significant financing action of the year to date. In January it sold US$1bn worth of 10-year notes and in March it sold off US$1.8bn in secured tower revenue securities.
Since American Tower secured its facility in 2011, its portfolio of sites around the world has leapt from 36,000 to 56,000. The towerco now operates in 11 countries and is reported to be looking to expand its holdings in India. It has recently been linked to a US$500m-plus acquisition of TowerVision India.
