TMCnet News

American Tower Corporation Prices Senior Notes Offering
[March 29, 2022]

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 2027 and 2032 in aggregate principal amounts of $650.0 million and $650.0 million, respectively. The 2027 notes will have an interest rate of 3.650% per annum and are being issued at a price equal to 99.517% of their face value. The 2032 notes will have an interest rate of 4.050% per annum and are being issued at a price equal to 99.491% of their face value.

The net proceeds of the offering are expected to be approximately $1,282.6 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, as amended and restated in December 2021, its $4.0 billion senior unsecured revolving credit facility, as amended and restated in December 2021, and its $3.0 billion unsecured term loan entered into in December 2021.

J.P. Morgan, BofA Securities, Citigroup, Morgan Stanley and SMBC Nikko are acting as Joint Book-Running Managers for the offering.

This press release shall not constitute an offer to sell or a solicitation to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to regitration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus and related prospectus supplement, which may be obtained by visiting the Securities and Exchange Commission's website at www.sec.gov. Alternatively, you may request these documents by calling J.P. Morgan Securities LLC at 1-212-834-4533, BofA Securities, Inc. at 1-800-294-1322, Citigroup Global Markets Inc. at 1-800-831-9146, Morgan Stanley & Co. LLC at 1-866-718-1649 or SMBC Nikko Securities America, Inc. at 1-888-868-6856.



About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 220,000 communications sites and a highly interconnected footprint of U.S. data center facilities. For more information about American Tower, please visit the "Earnings Materials" and "Investor Presentations" sections of our investor relations website at www.americantower.com.


Cautionary Language Regarding Forward-Looking Statements

This press release contains "forward-looking statements" concerning the Company's goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions and other statements that are not necessarily based on historical facts. Actual results may differ materially from those indicated in the Company's forward-looking statements as a result of various factors, including those factors set forth in Item 1A of its Form 10-K for the year ended December 31, 2021 under the caption "Risk Factors." The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.


[ Back To TMCnet.com's Homepage ]