American Tower in Obtaining $860 Million Loan
April 08, 2011
Cleary Gottlieb represented American Tower Corporation in connection with a $860 million revolving credit facility. Bank of America is serving as administrative agent and Barclays Capital is serving as syndication agent under the facility. The credit agreement allows American Tower to expand the facility to $1 billion if it secures additional commitments. The credit agreement was signed on April 8, 2011.
American Tower is a leading independent owner, operator and developer of broadcast and wireless communications sites. American Tower owns and operates approximately 36,000 communications sites in the United States, Brazil, Chile, Colombia, India, Mexico, Peru and South Africa. The company generally leases antenna space on the towers to wireless service providers, as well as radio and television broadcast companies.