American Tower Corporation Announces Acquisition of Tower Sites From NII Holdings in Mexico and Brazil

  American Tower Corporation Announces Acquisition of Tower Sites From NII
  Holdings in Mexico and Brazil

Business Wire

BOSTON -- August 9, 2013

American Tower Corporation (NYSE: AMT) today announced that it has reached an
agreement with NII Holdings, Inc. (NASDAQ: NIHD) to acquire up to 2,790 towers
in Brazil and 1,666 towers in Mexico in two separate transactions, for
approximately $413 million and $398 million, respectively, based on current
foreign currency exchange rates. The transaction agreements provide that all
payments, including the tower rent, will be made in local currency. American
Tower expects to use cash on hand and borrowings under its existing revolving
credit facilities to fund the acquisition.

American Tower expects the towers will collectively generate approximately
$149 million in annual run rate revenues and approximately $55 million in
annual Gross Margin and anticipates that the acquisition will be immediately
accretive to Adjusted Funds from Operations upon closing. Both Nextel Brazil
and Nextel Mexico have agreed to leaseback the towers from American Tower for
a minimum 12-year initial lease term with additional renewal options
thereafter. NII International Telecom S.C.A, a subsidiary of NII based in
Luxembourg, has agreed to provide certain credit support with respect to the
obligations of Nextel Brazil.

The majority of the portfolio consists of towers located in and around major
population areas and along major highways. On average, the towers have a
tenancy ratio of just over one tenant per tower, with Nextel Brazil or Nextel
Mexico as the primary tenant, providing significant opportunities for future
site leasing growth. American Tower expects to invest approximately $50
million in start-up capital expenditures associated with the two portfolios.

Jim Taiclet, Chairman, President and Chief Executive Officer of American
Tower, said: "Through this acquisition, American Tower will gain significant
incremental scale in our Mexican and Brazilian operations, and we anticipate
leveraging the strong demand backdrop in both markets to drive meaningful
revenue and cash flow growth for many years to come."

The transactions are subject to regulatory approvals and the initial closing
under each transaction is expected to be completed in the fourth quarter of
2013. These initial closings are expected to be followed by subsequent
closings of additional tranches of towers as certain closing requirements
relating to the remaining tranches are satisfied.

American Tower was advised by Evercore as financial advisor and Kilpatrick
Townsend & Stockton as legal advisor.

About American Tower

American Tower is a leading independent owner, operator and developer of
wireless and broadcast communications real estate. American Tower currently
owns and operates over 56,000 communications sites in the United States,
Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and
Uganda. For more information about American Tower, please visit

Cautionary Language Regarding Forward-Looking Statements

This press release contains statements about future events and expectations,
or “forward-looking statements,” all of which are inherently uncertain. We
have based those forward looking statements on management’s current
expectations and assumptions and not on historical facts. Examples of these
statements include, but are not limited to,statements regarding our
expectations of the acquisition of certain towers, expected financial
projections for the acquired towers, anticipated closing dates, and the
expected cash consideration. These forward-looking statements involve a number
of risks and uncertainties. Among the important factors that could cause
actual results to differ materially from those indicated in such
forward-looking statements include market conditions for corporate debt
generally, for the securities of telecommunications companies and for our
indebtedness in particular. For other important factors that may cause actual
results to differ materially from those indicated in our forward-looking
statements, we refer you to the information contained in Item1A of our Form
10-Q for the quarter ended June 30, 2013 under the caption “Risk Factors” and
in other filings we make with the Securities and Exchange Commission. We
undertake no obligation to update the information contained in this press
release to reflect subsequently occurring events or circumstances.


American Tower Corporation
Leah Stearns, 617-375-7500
Vice President, Investor Relations & Capital Markets
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