American Tower gets $550 million in incremental revolver debt

By Sara Rosenberg

New York, Feb. 20 - American Tower Corp. closed on $550 million in incremental revolving credit facilities due Oct. 27, 2010, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

The facilities include a $300 million incremental revolver under the American Tower credit facility and a $250 million incremental revolver under the SpectraSite credit facility, both of which remained undrawn at closing.

The incremental revolvers were completed on Feb. 16.

Lenders under both add-ons include JPMorgan, Toronto Dominion, Credit Suisse and Morgan Stanley.

In addition, the company drew down $250 million of its existing revolver under the American Tower credit facility to fund repurchases of its 5% convertible notes.

American Tower is a Boston-based owner, operator and developer of broadcast and wireless communications sites.

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