American Tower Corporation Prices Senior Notes Offering
American Tower Corporation (NYSE: AMT) today announced the pricing of its registered public offering of senior unsecured notes due 2031, 2033 and 2036 in aggregate principal amounts of $500.0 million, $500.0 million and $600.0 million, respectively. The 2031 notes will have an interest rate of 5.300% per annum and are being issued at a price equal to 99.718% of their face value. The 2033 notes will have an interest rate of 5.560% per annum and are being issued at a price equal to 99.776% of their face value. The 2036 notes will have an interest rate of 5.750% per annum and are being issued at a price equal to 99.497% of their face value.
The net proceeds of the offering are expected to be $1,579.9 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay $600.0 million aggregate principal amount of its 1.450% senior notes due 2026, to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, and for general corporate purposes.
J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc. are acting as Joint Book-Running Managers for the offering.
