American Tower Corp Prices €500M Senior Notes Due 2032

By Tamara Parker • Thursday, May 22 06:04 • Permanent Link

American Tower Corporation (NYSE: AMT) has announced the pricing of its registered public offering of senior unsecured notes due 2032 in an aggregate principal amount of €500.0 million (approximately $562.0 million). The 2032 notes will have an interest rate of 3.625% per annum and are being issued at a price equal to 99.994% of their face value. The net proceeds of the offering are expected to be €496.8 million (approximately $558.4 million).

The company intends to use the net proceeds to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, as amended and restated in December 2021, as further amended, and for general corporate purposes.

Barclays Bank PLC, Citigroup Global Markets Limited, ING Bank N.V., Mizuho International PLC, Morgan Stanley & Co. International PLC, and SMBC Bank International PLC are acting as joint book-running managers for the offering.

American Tower is a leading independent owner, operator, and developer of multitenant communications real estate with a portfolio of over 149,000 communications sites and a highly interconnected footprint of U.S. data center facilities. Today the company's shares have moved -0.73% to a price of $213.83. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.