American Tower Corporation (NYSE: AMT) has announced the pricing of its registered public offering of senior unsecured notes due 2030 and 2035 in aggregate principal amounts of $600.0 million and $600.0 million, respectively. The 2030 notes will have an interest rate of 5.000% per annum and are being issued at a price equal to 99.622% of their face value. The 2035 notes will have an interest rate of 5.400% per annum and are being issued at a price equal to 99.455% of their face value.
The net proceeds of the offering are expected to be approximately $1,183.7 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 further amended, and its $4.0 billion senior unsecured revolving credit facility, as amended and restated in December 2021, as further amended.
Barclays, Mizuho, RBC Capital Markets, Scotiabank, and TD Securities are acting as joint book-running managers for the offering. This press release emphasizes that it 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.
American Tower is described as one of the largest global REITs, a leading independent owner, operator, and developer of multitenant communications real estate, with a portfolio of over 148,000 communications sites and a highly interconnected footprint of U.S. data center facilities. Today the company's shares have moved 1.0% to a price of $200.88. If you want to know more, read the company's complete 8-K report here.
