American Tower Completes $1.6 Billion Multi-Tranche Senior Notes Offering

Summary of Material Definitive Agreement & Debt Obligation (Form 8-K)

Company: American Tower Corporation (NYSE: AMT)
Filing Date: September 14, 2026
Items Reported: Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item 9.01 (Financial Statements and Exhibits)

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1. Offering Structure and Terms

On September 14, 2026, American Tower Corporation completed a registered public offering of $1.6 billion aggregate principal amount of senior unsecured notes across three tranches:

1. $500.0 Million 5.300% Senior Notes due September 15, 2031

   • Coupon: 5.300% per annum (semi-annual payments on March 15 and September 15, starting March 15, 2027)
   • Par Call Date: August 15, 2031

2. $500.0 Million 5.560% Senior Notes due September 15, 2033

   • Coupon: 5.560% per annum (semi-annual payments on March 15 and September 15, starting March 15, 2027)
   • Par Call Date: July 15, 2033

3. $600.0 Million 5.750% Senior Notes due September 15, 2036

   • Coupon: 5.750% per annum (semi-annual payments on March 15 and September 15, starting March 15, 2027)
   • Par Call Date: June 15, 2036

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2. Proceeds and Use of Funds

• Net Proceeds: Approximately $1,579.9 million after underwriting commissions and estimated offering expenses.
• Use of Proceeds:
  • Repay $600.0 million aggregate principal amount of 1.450% senior unsecured notes maturing in 2026.
  • Repay indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility.
  • General corporate purposes.

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3. Key Covenants & Indenture Terms

• Governing Agreement: Indenture dated June 2, 2025, supplemented by Supplemental Indenture No. 3 dated September 14, 2026, with U.S. Bank Trust Company, National Association as Trustee.
• Lien Restrictions: Restricts the company and subsidiaries from incurring liens on assets or mortgages securing indebtedness unless secured debt does not exceed 3.5x Adjusted EBITDA.
• Change of Control: If a Change of Control and Ratings Decline occurs, the company is required to offer repurchase of the notes at 101% of principal plus accrued interest.
• Optional Redemption: Callable prior to par call dates at make-whole redemption price, or at 100% of principal on/after specified par call dates.