| Schedule of Long-Term Debt Instruments |
Outstanding amounts under the Company’s long-term obligations, reflecting discounts, premiums and debt issuance costs, consisted of the following: | | | | | | | | | | | | | | | | | | | As of | | | | March 31, 2024 | | December 31, 2023 | | Maturity Date | | 2021 Multicurrency Credit Facility (1) (2) | $ | 1,011.6 | | | $ | 723.4 | | | July 1, 2026 | | 2021 Term Loan (1) | 997.2 | | | 997.0 | | | January 31, 2027 | | 2021 Credit Facility (1) | 2,038.4 | | | 1,603.4 | | | July 1, 2028 | | 2021 EUR Three Year Delayed Draw Term Loan (1) (2) | 890.1 | | | 910.7 | | | May 28, 2024 | 0.600% senior notes (3) | — | | | 500.0 | | | N/A | 5.00% senior notes (4) | — | | | 1,000.1 | | | N/A | 3.375% senior notes | 650.0 | | | 649.7 | | | May 15, 2024 | 2.950% senior notes | 648.6 | | | 648.2 | | | January 15, 2025 | 2.400% senior notes | 748.8 | | | 748.5 | | | March 15, 2025 | 1.375% senior notes (5) | 538.0 | | | 550.0 | | | April 4, 2025 | 4.000% senior notes | 748.4 | | | 748.1 | | | June 1, 2025 | 1.300% senior notes | 498.5 | | | 498.3 | | | September 15, 2025 | 4.400% senior notes | 498.9 | | | 498.7 | | | February 15, 2026 | 1.600% senior notes | 697.7 | | | 697.4 | | | April 15, 2026 | 1.950% senior notes (5) | 537.4 | | | 549.6 | | | May 22, 2026 | 1.450% senior notes | 596.3 | | | 595.9 | | | September 15, 2026 | 3.375% senior notes | 995.1 | | | 994.7 | | | October 15, 2026 | 3.125% senior notes | 399.0 | | | 398.9 | | | January 15, 2027 | 2.750% senior notes | 747.3 | | | 747.0 | | | January 15, 2027 | 0.450% senior notes (5) | 805.9 | | | 824.3 | | | January 15, 2027 | 0.400% senior notes (5) | 536.1 | | | 548.2 | | | February 15, 2027 | 3.650% senior notes | 645.2 | | | 644.8 | | | March 15, 2027 | 4.125% senior notes (5) | 643.9 | | | 658.6 | | | May 16, 2027 | 3.55% senior notes | 747.3 | | | 747.1 | | | July 15, 2027 | 3.600% senior notes | 696.3 | | | 696.0 | | | January 15, 2028 | 0.500% senior notes (5) | 804.4 | | | 822.8 | | | January 15, 2028 | 1.500% senior notes | 647.3 | | | 647.1 | | | January 31, 2028 | 5.500% senior notes | 694.0 | | | 693.6 | | | March 15, 2028 | 5.250% senior notes | 644.2 | | | 643.9 | | | July 15, 2028 | 5.800% senior notes | 743.7 | | | 743.4 | | | November 15, 2028 | 5.200% senior notes | 642.7 | | | — | | | February 15, 2029 |
| | | | | | | | | | | | | | | | | | 3.950% senior notes | 594.0 | | | 593.7 | | | March 15, 2029 | 0.875% senior notes (5) | 805.1 | | | 823.7 | | | May 21, 2029 | 3.800% senior notes | 1,639.1 | | | 1,638.6 | | | August 15, 2029 | 2.900% senior notes | 744.5 | | | 744.2 | | | January 15, 2030 | 2.100% senior notes | 743.4 | | | 743.1 | | | June 15, 2030 | 0.950% senior notes (5) | 533.8 | | | 546.0 | | | October 5, 2030 | 1.875% senior notes | 793.6 | | | 793.3 | | | October 15, 2030 | 2.700% senior notes | 695.2 | | | 695.0 | | | April 15, 2031 | 4.625% senior notes (5) | 533.0 | | | 545.2 | | | May 16, 2031 | 2.300% senior notes | 692.9 | | | 692.7 | | | September 15, 2031 | 1.000% senior notes (5) | 695.4 | | | 711.5 | | | January 15, 2032 | 4.050% senior notes | 643.1 | | | 642.9 | | | March 15, 2032 | 5.650% senior notes | 790.8 | | | 790.6 | | | March 15, 2033 | 1.250% senior notes (5) | 533.4 | | | 545.8 | | | May 21, 2033 | 5.550% senior notes | 840.8 | | | 840.6 | | | July 15, 2033 | 5.900% senior notes | 741.7 | | | 741.5 | | | November 15, 2033 | 5.450% senior notes | 640.0 | | | — | | | February 15, 2034 | 3.700% senior notes | 592.5 | | | 592.4 | | | October 15, 2049 | 3.100% senior notes | 1,038.6 | | | 1,038.6 | | | June 15, 2050 | 2.950% senior notes | 1,023.3 | | | 1,023.2 | | | January 15, 2051 | | Total American Tower Corporation debt | 36,806.5 | | | 36,472.0 | | | | | | | | | | | Series 2015-2 notes (6) | 524.2 | | | 524.1 | | | June 16, 2025 | | Series 2018-1A securities (7) | 497.0 | | | 496.8 | | | March 15, 2028 | | Series 2023-1A securities (8) | 1,285.3 | | | 1,284.4 | | | March 15, 2028 | | Other subsidiary debt (9) | 126.7 | | | 123.6 | | | Various | | Total American Tower subsidiary debt | 2,433.2 | | | 2,428.9 | | | | | Finance lease obligations | 19.8 | | | 20.6 | | | | | Total | 39,259.5 | | | 38,921.5 | | | | | Less current portion of long-term obligations | (3,067.6) | | | (3,187.5) | | | | | Long-term obligations | $ | 36,191.9 | | | $ | 35,734.0 | | | |
_______________ (1)Accrues interest at a variable rate. (2)Reflects borrowings denominated in Euro (“EUR”) and, for the 2021 Multicurrency Credit Facility (as defined below), reflects borrowings denominated in both EUR and U.S. Dollars (“USD”). (3)Repaid in full on January 12, 2024 using borrowings under the 2021 Multicurrency Credit Facility. (4)Repaid in full on February 14, 2024 using borrowings under the 2021 Multicurrency Credit Facility. (5)Notes are denominated in EUR. (6)Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2050. (7)Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2048. (8)Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2053. (9)Includes amounts drawn under letters of credit in Nigeria, which are denominated in USD, and borrowings under an unsecured term loan in India (the “India Term Loan”), which is denominated in INR. In January 2024, the Company amended the India Term Loan to extend the maturity date to December 31, 2024. The key terms of the Notes are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Senior Notes | | Aggregate Principal Amount (in millions) | | Issue Date and Interest Accrual Date | | Maturity Date | | Contractual Interest Rate | | First Interest Payment | | Interest Payments Due (1) | | Par Call Date (2) | 5.200% Notes | | $ | 650.0 | | | March 7, 2024 | | February 15, 2029 | | 5.200% | | August 15, 2024 | | February 15 and August 15 | | January 15, 2029 | 5.450% Notes | | $ | 650.0 | | | March 7, 2024 | | February 15, 2034 | | 5.450% | | August 15, 2024 | | February 15 and August 15 | | November 15, 2033 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
___________(1)Accrued and unpaid interest on USD denominated notes is payable in USD semi-annually in arrears and will be computed from the issue date on the basis of a 360-day year comprised of twelve 30-day months. (2)The Company may redeem the Notes at any time, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes plus a make-whole premium, together with accrued interest to the redemption date. If the Company redeems the Notes on or after the par call date, the Company will not be required to pay a make-whole premium.
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| Schedule of Maturities of Long-Term Debt |
As of March 31, 2024, the key terms under the 2021 Multicurrency Credit Facility, the 2021 Credit Facility, the Company’s $1.0 billion unsecured term loan, as amended and restated in December 2021, as further amended (the “2021 Term Loan”) and the Company’s 825.0 million EUR unsecured term loan, as amended in December 2021 (the “2021 EUR Three Year Delayed Draw Term Loan”) were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Outstanding Principal Balance
(in millions) | | Undrawn letters of credit
(in millions) | | Maturity Date | | Current margin over SOFR or EURIBOR (1) | | Current commitment fee (2) | | 2021 Multicurrency Credit Facility | $ | 1,011.6 | | | $ | 3.5 | | | July 1, 2026 | (3) | 1.125 | % | | 0.110 | % | | 2021 Credit Facility | 2,038.4 | | | 30.4 | | | July 1, 2028 | (3) | 1.125 | % | | 0.110 | % | | 2021 Term Loan | 1,000.0 | | | N/A | | January 31, 2027 | | 1.125 | % | | N/A | | 2021 EUR Three Year Delayed Draw Term Loan | 890.2 | | | N/A | | May 28, 2024 | | 1.125 | % | | N/A | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
_______________ (1)SOFR applies to the USD denominated borrowings under the 2021 Multicurrency Credit Facility, the 2021 Credit Facility and the 2021 Term Loan. Euro Interbank Offer Rate (“EURIBOR”) applies to the EUR denominated borrowings under the 2021 Multicurrency Credit Facility and all of the borrowings under the 2021 EUR Three Year Delayed Draw Term Loan. (2)Fee on undrawn portion of each credit facility. (3)Subject to two optional renewal periods.
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