American Tower Corporation Completes New Revolving Credit Facility

American Tower Corporation announced that it has entered into a loan agreement in connection with its new $1.0 billion unsecured revolving credit facility. At closing, American Tower borrowed $700 million under this new credit facility and used the proceeds, together with $625 million in borrowings from its $1.0 billion unsecured revolving credit facility entered into in April 2011 and cash on hand, to repay all amounts outstanding and accrued interest and related fees under its existing $1.25 billion unsecured revolving credit facility (2007 Credit Facility) and $325 million term loan. Upon repayment, American Tower terminated the 2007 Credit Facility. The new credit facility has a term of five years, maturing on January 31, 2017, with a current interest rate of 1.625% plus LIBOR on the drawn portion and a commitment fee on the undrawn portion of 0.225%. The credit facility does not require amortization of payments and may be paid prior to maturity in whole or in part at American Tower’s option without penalty or premium. The credit facility allows American Tower to use borrowings for working capital needs and other general corporate purposes of American Tower and its subsidiaries, including, without limitation, to refinance or repurchase other indebtedness and to repurchase American Tower’s equity securities, in each case without additional lender approval.