American Tower (AMT) Prices $500M Senior Notes Offering
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American Tower Corporation (NYSE: AMT) has priced its registered public offering of senior unsecured notes due November 1, 2021 in an aggregate principal amount of $500 million.
The notes will have an interest rate of 5.900% per annum and are being issued at a price equal to 99.858% of their face value. The net proceeds of the offering are expected to be approximately $495.2 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from this offering to, among other things, finance acquisitions and repay $100.0 million of its outstanding indebtedness under its $1.25 billion revolving credit facility.
Barclays Capital Inc., Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and RBS Securities Inc. are acting as joint book-running managers for the offering of the notes.
The notes will have an interest rate of 5.900% per annum and are being issued at a price equal to 99.858% of their face value. The net proceeds of the offering are expected to be approximately $495.2 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from this offering to, among other things, finance acquisitions and repay $100.0 million of its outstanding indebtedness under its $1.25 billion revolving credit facility.
Barclays Capital Inc., Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and RBS Securities Inc. are acting as joint book-running managers for the offering of the notes.
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