American Tower Corporation priced a registered public offering of senior unsecured notes due 2032 at $850.0 million.
The 2032 notes will carry an interest rate of 4.700% per annum.
Net proceeds from the offering are expected to be approximately $839.5 million after deducting underwriting discounts and expenses.
Offer Details
Senior unsecured notes due 2032 priced at $850.0 million with an interest rate of 4.700%.
Use of Proceeds
Net proceeds around $839.5 million to repay existing indebtedness under a senior unsecured revolving credit facility.
Book-Running Managers
Barclays Capital Inc., Mizuho Securities USA LLC, RBC Capital Markets, LLC, Santander US Capital Markets LLC, and TD Securities (USA) LLC are acting as Joint Book-Running Managers.
- American Tower intends to reduce its existing indebtedness with the net proceeds of the offering.
- The 4.700% interest rate may attract investors looking for fixed-income opportunities.
The successful pricing of the senior notes offering reflects investor confidence in American Tower Corporation's financial position.