American Tower Credit Agreement

American Tower Corporation is a leading real estate investment trust specializing in owning, operating, and developing communications real estate. The company has a strong presence in the United States, Latin America, and India, and has recently entered into a new credit agreement to support its growth initiatives.

The American Tower Credit Agreement was signed in December 2020, replacing the company`s previous credit agreement from 2018. The new agreement provides American Tower with increased borrowing capacity and more flexible terms, allowing the company to take advantage of growth opportunities in its core markets.

The credit agreement includes a senior unsecured revolving credit facility of $3.5 billion, which can be expanded up to $4.5 billion subject to certain conditions. The facility has a maturity date of December 2025, providing American Tower with long-term financing to support its strategic objectives.

One of the key features of the credit agreement is its sustainability-linked pricing mechanism. The interest rate on the credit facility will be adjusted based on American Tower`s performance against certain sustainability targets, including reducing greenhouse gas emissions and increasing investment in renewable energy. This incentivizes the company to adopt more sustainable business practices and aligns with its commitment to environmental, social, and governance (ESG) principles.

The credit agreement also includes financial covenants that American Tower must meet, including maintaining a certain leverage ratio and minimum interest coverage ratio. These covenants help ensure the company`s financial stability and ability to meet its debt obligations.

In summary, the American Tower Credit Agreement provides the company with increased borrowing capacity, flexible terms, and an innovative sustainability-linked pricing mechanism. With this new financing in place, American Tower is well-positioned to pursue its growth initiatives and continue its leadership in the global communications real estate industry.