AMT.N

American Tower Corporation Prices $1.2 Billion Senior Notes Offering

authorIntellectia.AI

2024-11-192mins

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

Want more financial insights delivered directly to your inbox?

Subscribe now and receive handpicked financial news, insights, and trending topics.