American Tower Corporation (NYSE: AMT) has announced the pricing of its registered public offering of senior unsecured notes due 2030 and 2034 in aggregate principal amounts of €500.0 million (approximately $543.5 million) each. The 2030 notes will carry an interest rate of 3.900% per annum and are being issued at a price equal to 99.622% of their face value. On the other hand, the 2034 notes will have an interest rate of 4.100% per annum and are being issued at a price equal to 99.306% of their face value.
The net proceeds of the offering are expected to be approximately €988.4 million (approximately $1,074.2 million), after deducting underwriting discounts and estimated offering expenses. These proceeds are intended to be used by American Tower to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, as well as to repay existing indebtedness under its €825.0 million unsecured term loan.
Banco Santander, S.A., Barclays Bank PLC, Citigroup Global Markets Limited, J.P. Morgan Securities PLC, and Mizuho International PLC are acting as joint book-running managers for the offering.
This announcement comes as American Tower, one of the largest global REITs, continues to solidify its position as a leading independent owner, operator, and developer of multitenant communications real estate, boasting a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities. As a result of these announcements, the company's shares have moved -0.9% on the market, and are now trading at a price of $189.69. If you want to know more, read the company's complete 8-K report here.
