American Tower adds loans for Telxius buy

摘要

AMERICAN TOWER has agreed delayed draw term loans totalling €1.925bn to support its €7.7bn acquisition of Telxius Towers from Telefonica. The company has also reduced the size of its bridge loan to €4.275bn from up to €7.5bn, increased commitment amounts on two separate revolving credit facilities and further amended those RCFs and a third credit agreement. The additional committed amounts will be used for the Telxius acquisition, offsetting the reduction of the bridge loan. The new facilities are a €1.1bn 364-day delayed-draw term loan that pays an opening margin of 100bp over Euribor, and an €825m three-year delayed-draw term loan featuring opening pricing of 112.5bp over Euribor. The maturity of the loans is calculated from the first draw-down.