American Tower amends major credit facilities

American Tower Corporation has amended three major debt agreements: a $6.0 billion senior unsecured multicurrency revolving credit facility, a $4.0 billion senior unsecured revolving credit facility and a $1.0 billion unsecured term loan.

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Form Type

8-K

Rhea-AI Filing Summary

American Tower Corporation has amended three major debt agreements: a $6.0 billion senior unsecured multicurrency revolving credit facility, a $4.0 billion senior unsecured revolving credit facility and a $1.0 billion unsecured term loan.

The amendments extend the multicurrency facility and term loan to May 1, 2029 and the other credit facility to May 1, 2031. They also add limited conditionality provisions allowing up to $5.0 billion of borrowing for certain acquisitions, double the swingline sublimits from $50.0 million to $100.0 million, permit liens securing debt up to a 3.5x Senior Secured Debt to Adjusted EBITDA ratio and limit new indebtedness under these loans to the company’s subsidiaries.

Insights

American Tower extends key credit facilities and tweaks covenant flexibility.

American Tower updated three large loan agreements totaling several billion dollars. The changes push out maturities to May 1, 2029 and May 1, 2031, keeping long-term bank liquidity in place and aligning debt timelines with multi‑year investment plans.

The amendments add limited conditionality provisions so the company can borrow up to $5.0 billion in connection with certain acquisitions, which can ease execution of larger deals. The swingline sublimits rising to $100.0 million each should improve short‑term funding flexibility within these facilities.

Covenants now allow liens securing debt up to a 3.5x Senior Secured Debt to Adjusted EBITDA ratio while restricting new indebtedness under these loans to subsidiaries only. The overall impact is primarily structural; actual leverage and acquisition activity will depend on future decisions disclosed in subsequent filings.

8-K Event Classification

2 items: 1.01, 2.03

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Key Figures

Multicurrency revolving credit facility: $6.0 billion Revolving credit facility: $4.0 billion Unsecured term loan: $1.0 billion +5 more

8 metrics

Multicurrency revolving credit facility $6.0 billion Senior unsecured multicurrency revolving credit facility size

Revolving credit facility $4.0 billion Senior unsecured revolving credit facility size

Unsecured term loan $1.0 billion Unsecured term loan size

Acquisition borrowing capacity $5.0 billion Borrowing allowed under limited conditionality provisions for certain acquisitions

Swingline sublimit increase $50.0 million to $100.0 million Sublimit change under both 2021 revolving credit facilities

Secured debt covenant 3.5x Maximum Senior Secured Debt to Adjusted EBITDA ratio for liens

Multicurrency facility maturity May 1, 2029 New maturity date for 2021 Multicurrency Credit Facility

Revolving facility maturity May 1, 2031 New maturity date for 2021 Credit Facility

Key Terms

senior unsecured multicurrency revolving credit facility, swingline sublimit, Senior Secured Debt, Adjusted EBITDA, +1 more

5 terms

senior unsecured multicurrency revolving credit facility financial

"its (i) $6.0 billion senior unsecured multicurrency revolving credit facility, as amended and restated"

swingline sublimit financial

"increase the swingline sublimit under each of the 2021 Multicurrency Credit Facility and the 2021 Credit Facility"

A swingline sublimit is a reserved portion of a larger revolving loan that lets a borrower take very short-term, typically small, advances quickly for immediate cash needs—think of it as an emergency overdraft within a broader credit line. Investors care because the size and availability of the swingline sublimit indicate how easily a company can handle sudden cash shortfalls without tapping longer‑term debt, which affects short‑term liquidity risk and the likelihood of covenant breaches.

Senior Secured Debt financial

"not to exceed the 3.5x ratio of Senior Secured Debt to Adjusted EBITDA"

Senior secured debt is a loan or bond that has first claim on specific company assets if the company cannot meet its obligations; “senior” means it ranks ahead of other debts and “secured” means it is backed by collateral. Investors care because it usually carries lower risk and lower interest than unsecured debt: in a default holders of senior secured debt are likeliest to recover some money, so this status affects expected returns and safety compared with other claims.

Adjusted EBITDA financial

"3.5x ratio of Senior Secured Debt to Adjusted EBITDA (each as defined in each of the Loans)"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

limited conditionality provisions financial

"include limited conditionality provisions in the 2021 Multicurrency Credit Facility, permitting the Company to borrow"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did American Tower (AMT) change in its credit agreements?

American Tower amended three major loan agreements, extending maturities and updating covenants. The revisions cover two senior unsecured revolving credit facilities and a senior unsecured term loan, affecting borrowing flexibility, acquisition financing conditions and how much secured debt can be incurred under these facilities.

How large are the American Tower credit facilities affected by this 8-K?

The amendments apply to a $6.0 billion senior unsecured multicurrency revolving credit facility, a $4.0 billion senior unsecured revolving credit facility and a $1.0 billion unsecured term loan. Together, these facilities represent a significant portion of American Tower’s committed bank financing capacity and liquidity support.

To what dates did American Tower extend its loan maturities?

The multicurrency revolving credit facility and the unsecured term loan now mature on May 1, 2029, while the other senior unsecured revolving credit facility now matures on May 1, 2031. These extensions lengthen the company’s bank debt maturities, reducing near‑term refinancing pressure on these particular facilities.

How do the amendments affect American Tower’s acquisition financing capacity?

The multicurrency facility now includes limited conditionality provisions permitting American Tower to borrow up to $5.0 billion in connection with certain acquisitions. This structure is designed to support qualifying transactions by allowing drawdowns under specified conditions without renegotiating core facility terms for each individual deal.

What covenant changes did American Tower make on secured debt and liens?

The covenant governing liens now permits incurring liens securing indebtedness up to a 3.5x ratio of Senior Secured Debt to Adjusted EBITDA, as defined in the loans. This provides room for secured financing within that limit, while keeping leverage boundaries explicitly tied to a cash‑flow based metric.

How did swingline borrowing limits change for American Tower’s facilities?

The swingline sublimit under both the 2021 Multicurrency Credit Facility and the 2021 Credit Facility increased from $50.0 million to $100.0 million. Swingline loans support short‑term funding needs, so doubling these sublimits enhances American Tower’s ability to address day‑to‑day liquidity demands quickly.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 04:38 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): May 7, 2026

AMERICAN TOWER CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware

001-14195

65-0723837

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

222 Berkeley Street

Boston, Massachusetts 02116

(Address of Principal Executive Offices) (Zip Code)

(617) 375-7500

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	AMT	New York Stock Exchange
1.950% Senior Notes due 2026	AMT 26B	New York Stock Exchange
0.450% Senior Notes due 2027	AMT 27C	New York Stock Exchange
0.400% Senior Notes due 2027	AMT 27D	New York Stock Exchange
4.125% Senior Notes due 2027	AMT 27F	New York Stock Exchange
0.500% Senior Notes due 2028	AMT 28A	New York Stock Exchange
0.875% Senior Notes due 2029	AMT 29B	New York Stock Exchange
0.950% Senior Notes due 2030	AMT 30C	New York Stock Exchange
3.900% Senior Notes due 2030	AMT 30D	New York Stock Exchange
4.625% Senior Notes due 2031	AMT 31B	New York Stock Exchange
1.000% Senior Notes due 2032	AMT 32	New York Stock Exchange
3.625% Senior Notes due 2032	AMT 32B	New York Stock Exchange
1.250% Senior Notes due 2033	AMT 33	New York Stock Exchange
4.100% Senior Notes due 2034	AMT 34A	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Item 1.01 Entry into a Material Definitive Agreement.

On May 7, 2026, American Tower Corporation (the “Company”) entered into three separate amendment agreements (each an “Amendment” and collectively, the “Amendments”) to amend the agreements for each of its (i) $6.0 billion senior unsecured multicurrency revolving credit facility, as amended and restated on December 8, 2021, as further amended, with Toronto Dominion (Texas) LLC (“TD”) as Administrative Agent (as defined therein) (the “2021 Multicurrency Credit Facility”), (ii) $4.0 billion senior unsecured revolving credit facility, as amended and restated on December 8, 2021, as further amended, with TD as Administrative Agent (as defined therein) (the “2021 Credit Facility”) and (iii) $1.0 billion unsecured term loan, as amended and restated on December 8, 2021, as further amended, with Mizuho Bank, Ltd. as Administrative Agent (as defined therein) (the “2021 Term Loan” and, collectively with the 2021 Multicurrency Credit Facility and the 2021 Credit Facility, the “Loans”).

The Amendments to the Loans, among other things:

i.extend the maturity dates of the 2021 Multicurrency Credit Facility, the 2021 Credit Facility and the 2021 Term Loan to May 1, 2029, May 1, 2031 and May 1, 2029, respectively;

ii.include limited conditionality provisions in the 2021 Multicurrency Credit Facility, permitting the Company to borrow up to $5.0 billion in connection with certain acquisitions subject to such limited conditionality provisions;

iii.increase the swingline sublimit under each of the 2021 Multicurrency Credit Facility and the 2021 Credit Facility from $50.0 million to $100.0 million;

iv.amend the covenant governing the incurrence of liens under each of the Loans to permit the incurrence of liens securing indebtedness in an aggregate amount not to exceed the 3.5x ratio of Senior Secured Debt to Adjusted EBITDA (each as defined in each of the Loans); and

v.amend the covenant governing the incurrence of indebtedness under each of the Loans to restrict the incurrence of indebtedness to subsidiaries of the Company only.

Except as described above, all of the other material terms of the Loans remain in full force and effect.

The foregoing description is only a summary of certain provisions of the Amendments and is qualified in its entirety by the terms of the Amendments, copies of which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Please refer to the discussion under Item 1.01 above, which is incorporated under this Item 2.03 by reference.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		AMERICAN TOWER CORPORATION
		(Registrant)

Date:	May 7, 2026	By:	/s/ Rodney M. Smith
			Rodney M. Smith
			Executive Vice President, Chief Financial Officer and Treasurer

Source: View Original Filing on SEC EDGAR

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American Tower amends major credit facilities

Rhea-AI Filing Summary