American Tower in Amendment and Extension of Three Credit Facilities

Cleary Gottlieb represented American Tower Corporation (American Tower) in an amendment and extension of three of its credit facilities, including its $6 billion multicurrency senior unsecured revolving credit facility, $4 billion senior unsecured revolving credit facility, and $1 billion unsecured term loan facility.

The amendments extended the maturity dates of the multicurrency revolving facility and the term loan facility to May 1, 2029, and the maturity date of the revolving credit facility to May 1, 2031. The amendments also updated the applicable margins and amended the covenants governing the incurrence of indebtedness to apply only to American Tower’s subsidiaries in each of the facilities. The multicurrency revolving facility amendment added customary limited conditionality provisions to the facility, permitting American Tower to borrow up to $5 billion in connection with certain acquisitions subject to such provisions.

Toronto Dominion (Texas) LLC serves as administrative agent for the revolving credit facilities, and Mizuho Bank Ltd. serves as administrative agent for the term loan facility.

The amendments closed simultaneously on May 7, 2026.

American Tower, one of the largest global REITs, is a leading independent owner, operator, and developer of multitenant communications real estate with a portfolio of nearly 150,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

The Cleary debt finance team included partner Duane McLaughlin, associates Andy Xie and Kylee Nguyen, and law clerk Nathaniel Thompson. Partner Matthew Brigham and associate Mingyu Tang advised on tax matters.