American Tower has secured a US$1.5bn unsecured term loan and used it, alongside cash on hand, to refinance existing indebtedness.
The wireless infrastructure giant repaid US$800m it drew from its US$1bn unsecured revolver opened in January 2012, and a…
American Tower has secured a US$1.5bn unsecured term loan and used it, alongside cash on hand, to refinance existing indebtedness.
The wireless infrastructure giant repaid US$800m it drew from its US$1bn unsecured revolver opened in January 2012, and a US$750m unsecured term loan it entered into in June 2012.
The new US$1.5bn loan matures in 2019 and has an interest rate of Libor + 1.25%.
In a statement American Tower said that following the loan it had liquidity of US$2.6bn, including cash and ability to borrow using its revolvers.
The US towerco took its global portfolio to more than 61,000 sites following the purchase of Global Tower Partners for an enterprise value of US$4.8bn, which completed at the start of the month.
In August American Tower also bought towers from NII Holdings in Brazil and Mexico for US$811m.
