American Tower Corporation Prices Senior Notes Offering
September 30 2019 - 4:09PM
Business Wire
American Tower Corporation (NYSE: AMT) today announced the
pricing of its registered public offering of senior unsecured notes
due 2027 and 2049, in aggregate principal amounts of $750.0 million
and $600.0 million, respectively. The 2027 notes will have an
interest rate of 2.750% per annum and are being issued at a price
equal to 99.838% of their face value. The 2049 notes will have an
interest rate of 3.700% per annum and are being issued at a price
equal to 99.711% of their face value. The net proceeds of the
offering are expected to be approximately $1,334.2 million, after
deducting underwriting discounts and estimated offering expenses.
American Tower intends to use the net proceeds to repay existing
indebtedness, including under its multicurrency senior unsecured
revolving credit facility entered into in June 2013, as amended,
and its unsecured term loan entered into in February 2019.
Barclays, Mizuho Securities, RBC Capital Markets, Santander and
TD Securities 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 registration
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 Barclays Capital Inc. toll-free at 1-888-603-5847, Mizuho
Securities USA LLC at 1-866-271-7403, RBC Capital Markets, LLC at
1-866-375-6829, Santander Investment Securities Inc. at
1-855-403-3636 and TD Securities (USA) LLC at 1-855-495-9846.
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 approximately
171,000 communications sites.
Cautionary Language Regarding Forward-Looking
Statements
This press release contains statements about future events and
expectations, or “forward-looking statements,” all of which are
inherently uncertain. American Tower has based those
forward-looking statements on management’s current expectations and
assumptions and not on historical facts. Examples of these
statements include, but are not limited to, statements regarding
the expectations of the amount to be received in net proceeds,
American Tower’s ability to complete the offering and its
expectations for the use of proceeds from the offering. These
forward-looking statements involve a number of risks and
uncertainties. Among the important factors that could cause actual
results to differ materially from those indicated in such
forward-looking statements include market conditions for corporate
debt generally, for the securities of telecommunications companies
and for American Tower’s indebtedness in particular. For other
important factors that may cause actual results to differ
materially from those indicated in American Tower’s forward-looking
statements, we refer you to the information contained in the
prospectus supplement for this offering and Item 1A of the Form
10-K for the year ended December 31, 2018 under the caption “Risk
Factors” and in other filings American Tower makes with the
Securities and Exchange Commission. American Tower undertakes no
obligation to update the information contained in this press
release to reflect subsequently occurring events or
circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20190930005817/en/
Igor Khislavsky Vice President, Investor Relations Telephone:
(617) 375-7500
American Tower (NYSE:AMT)
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