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MarketScreener Homepage  >  Equities  >  Nyse  >  American Tower Corporation (REIT)    AMT

AMERICAN TOWER CORPORATION (REIT)

(AMT)
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AMERICAN TOWER CORP /MA/ : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

09/15/2020 | 08:37am EST

Item 7.01 Regulation FD Disclosure. Subsequent to the issuance of its full year 2020 outlook on July 30, 2020, American Tower Corporation (the "Company") entered into a new master lease agreement with T-Mobile U.S. Inc. (the "MLA"). Based on the MLA, the Company now expects to recognize approximately $95 million in additional straight-line revenue for the full year. The Company has therefore revised its outlook for the full year 2020 and now expects total property revenue of $7,750 to $7,880 million, net income of $1,845 to $1,925 million and Adjusted EBITDA of $4,985 to $5,065 million. The Company's full year expectations for other measures, including Organic Tenant Billings Growth and Consolidated AFFO, remain unchanged from its full year 2020 outlook issued on July 30, 2020.

The MLA provides for an average non-cancellable term of nearly 15 years on leases included in the MLA, thereby securing approximately $17 billion in expected incremental contractually committed revenue over the contract term.

On September 15, 2020, the Company issued a press release (the "Press Release") announcing the MLA. A copy of the Press Release is furnished herewith as Exhibit 99.1.

The information in this Current Report on Form 8-K and Exhibit 99.1 are being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information or exhibit be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits
Exhibit No.               Description

99.1                        Press Release, dated September 15, 2020.

                          Cover Page Interactive Data File (embedded within the Inline XBRL
104                       document).




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