Financing ·
American Tower prices $1.6B of senior unsecured notes due 2031, 2033, and 2036 to repay debt
AMTAmerican Tower Corp
American Tower Corporation priced a registered public offering of senior unsecured notes totaling $1.6 billion, consisting of $500 million due 2031 at 5.300%, $500 million due 2033 at 5.560%, and $600 million due 2036 at 5.750%. Net proceeds are expected to be $1,579.9 million after underwriting discounts and expenses. The company intends to use the funds to repay $600 million of its 1.450% senior notes due 2026, reduce indebtedness under its $6 billion revolving credit facility, and for general corporate purposes. American Tower is a leading independent owner, operator, and developer of multitenant communications real estate.