American Tower Corporation Prices $1.2 Billion Senior Notes Offering

authorIntellectia.AI2024-11-19
4
AMT.N
Illustration by Intellectia.AI

American Tower Corporation (NYSE: AMT) has announced the pricing of its senior unsecured notes offering, with notes due in 2030 and 2035. The total principal amounts are $600 million each. The 2030 notes carry an interest rate of 5.000% per annum, issued at 99.622% of their face value, while the 2035 notes have a 5.400% interest rate, issued at 99.455% of their face value.

The offering is expected to generate net proceeds of approximately $1,183.7 million, after accounting for underwriting discounts and estimated expenses. These proceeds are intended to repay existing debts under American Tower's $6 billion and $4 billion senior unsecured revolving credit facilities.

Barclays, Mizuho, RBC Capital Markets, Scotiabank, and TD Securities are serving as the Joint Book-Running Managers for the offering.

American Tower is a major global real estate investment trust (REIT), specializing in multitenant communications real estate. It operates over 148,000 communications sites worldwide and has a significant presence in U.S. data centers.

The offering was conducted through a prospectus and related supplement, accessible via the SEC’s website or through direct request from the joint managers.

Cautionary statements note that forward-looking statements in this announcement may differ from actual results due to various risk factors detailed in the company's reports filed with the Securities and Exchange Commission.

Share