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BOSTON-American Tower Corp. announced it has refinanced its $267 million Term Loan B under its credit facilities, with a new Term Loan C due Dec. 31, 2007. The company also amended its credit facilities to permit the issuance of its 7.5-percent senior notes due 2012.
American Tower expects to close on both the senior notes issuance and the credit facilities amendment in early February. Net proceeds from the issuance of the senior notes, expected to be $221.7 million, will be used to redeem all outstanding 6.25 percent convertible notes due 2009 and a portion of other outstanding notes.
