LONG-TERM OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term obligations

Outstanding amounts under the Company’s long-term obligations, reflecting discounts, premiums, debt issuance costs and fair value adjustments due to interest rate swaps consisted of the following:

	As of
	March 31, 2020		December 31, 2019		Maturity Date
2019 364-Day Term Loan (1) (2)	$	—	$	999.9	N/A
2020 Term Loan (1)	749.9		—		February 12, 2021
2019 Multicurrency Credit Facility (1) (3)	965.4		700.0		June 28, 2023
2019 Term Loan (1)	995.4		995.2		January 31, 2025
2019 Credit Facility (1)	1,415.0		1,600.0		January 31, 2025
2.800% senior notes	749.7		749.4		June 1, 2020
3.300% senior notes	748.8		748.5		February 15, 2021
3.450% senior notes	648.0		647.7		September 15, 2021
5.900% senior notes (4)	—		498.9		N/A
2.250% senior notes	605.7		592.1		January 15, 2022
4.70% senior notes	698.4		698.2		March 15, 2022
3.50% senior notes	994.7		994.3		January 31, 2023
3.000% senior notes	723.9		704.9		June 15, 2023
5.00% senior notes	1,001.6		1,001.7		February 15, 2024
3.375% senior notes	644.7		644.4		May 15, 2024
2.950% senior notes	641.7		641.3		January 15, 2025
2.400% senior notes	744.2		—		March 15, 2025
1.375% senior notes	544.5		553.0		April 4, 2025
4.000% senior notes	743.5		743.2		June 1, 2025
4.400% senior notes	496.7		496.6		February 15, 2026
1.950% senior notes	545.8		554.4		May 22, 2026
3.375% senior notes	988.3		987.9		October 15, 2026
3.125% senior notes	397.7		397.6		January 15, 2027
2.750% senior notes	743.7		743.5		January 15, 2027
3.55% senior notes	744.3		744.1		July 15, 2027
3.600% senior notes	692.8		692.6		January 15, 2028
3.950% senior notes	589.8		589.6		March 15, 2029
3.800% senior notes	1,632.1		1,631.7		August 15, 2029
2.900% senior notes	741.1		—		January 15, 2030
3.700% senior notes	591.8		591.8		October 15, 2049
Total American Tower Corporation debt	21,779.2		20,942.5
Series 2013-2A securities (5)	1,295.4		1,295.0		March 15, 2023
Series 2018-1A securities (5)	494.0		493.8		March 15, 2028
Series 2015-1 notes (6)	349.9		349.6		June 15, 2020
Series 2015-2 notes (7)	521.6		521.4		June 16, 2025
Other subsidiary debt (8)	111.7		422.4		Various
Total American Tower subsidiary debt	2,772.6		3,082.2
Finance lease obligations	25.6		30.7
Total	24,577.4		24,055.4
Less current portion of long-term obligations	(2,640.0)		(2,928.2)
Long-term obligations	$	21,937.4	$	21,127.2

_______________

(1) Accrues interest at a variable rate.

(2) Repaid in full on February 13, 2020 using proceeds from the 2020 Term Loan (as defined below), borrowings from the 2019 Credit Facility (as defined below) and cash on hand.

(3) As of March 31, 2020 reflects borrowings denominated in Euro (“EUR”).

(4) Repaid in full on January 15, 2020 with borrowings from the 2019 Credit Facility and cash on hand.

(5) Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2048.

(6) Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2045.

(7) Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2050.

(8) Includes the South African credit facility, which is denominated in South African Rand and amortizes through December 17, 2020, the Colombian credit facility, which is denominated in Colombian Pesos and amortizes through April 24, 2021, debt entered into by the Company’s Kenyan subsidiary in connection with an acquisition of sites in Kenya, which is denominated in U.S. Dollars (“USD”) and is payable either (i) in future installments subject to the satisfaction of specified conditions or (ii) three years from the note origination date, U.S. subsidiary debt related to a seller-financed acquisition and debt entered into by certain Eaton Towers subsidiaries acquired in connection with the Eaton Towers Acquisition (as defined in note 14) (the “Eaton Towers Debt”), which is denominated in multiple currencies, including USD, EUR, Kenyan Shilling (“KES”) and West African CFA Franc. During the three months ended March 31, 2020, the Company repaid all of the outstanding Eaton Towers Debt denominated in USD and KES. Subsequent to March 31, 2020, the Company repaid an additional 24.5 million EUR (approximately $26.8 million at the date of payment) of the outstanding Eaton Towers Debt. As of December 31, 2019, included the Brazil credit facility, which was denominated in Brazilian Reais and was repaid on March 6, 2020.

Schedule of line of credit facilities

As of March 31, 2020, the key terms under the 2019 Multicurrency Credit Facility, the 2019 Credit Facility, the Company’s $1.0 billion unsecured term loan, as amended and restated in December 2019 (the “2019 Term Loan”), and the 2020 Term Loan were as follows:

	Outstanding Principal Balance (in millions)			Undrawn letters of credit (in millions)		Maturity Date		Current margin over LIBOR (1)		Current commitment fee (2)
2019 Multicurrency Credit Facility	$	965.4	(3)	$	3.8	June 28, 2023	(4)	1.125	%	0.110	%
2019 Credit Facility	$	1,415.0		$	6.1	January 31, 2025	(4)	1.125	%	0.110	%
2019 Term Loan	$	1,000.0		N/A		January 31, 2025		1.125	%	N/A
2020 Term Loan	$	750.0		N/A		February 12, 2021		0.650	%	N/A

_______________

(1) LIBOR means the London Interbank Offered Rate.

(2) Fee on undrawn portion of each credit facility.

(3) Reflects borrowings denominated in EUR.

(4) Subject to two optional renewal periods.