American Tower Corporation (NYSE: AMT) has announced the pricing of its registered public offering of senior unsecured notes due 2030 and 2035. The offering consists of $200.0 million in 2030 notes and $375.0 million in 2035 notes. The 2030 notes will be issued at a price equal to 102.452% of their face value and will be consolidated to form a single series, fully fungible with the company's outstanding $650,000,000 4.900% senior unsecured notes due 2030 issued on March 14, 2025. On the other hand, the 2035 notes will be issued at a price equal to 103.567% of their face value and will similarly be consolidated to form a single series, fully fungible with the company's outstanding $350,000,000 5.350% senior unsecured notes due 2035 issued on March 14, 2025.
The net proceeds of the offering are expected to be approximately $587.8 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to utilize the net proceeds to repay existing indebtedness under its $4.0 billion senior unsecured revolving credit facility and for general corporate purposes.
The joint book-running managers for the offering are BBVA Securities Inc., BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC.
American Tower is a global real estate investment trust (REIT) and a leading independent owner, operator, and developer of multitenant communications real estate. The company boasts a portfolio of nearly 150,000 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 1.44% on the market, and are now trading at a price of $196.55. For more information, read the company's full 8-K submission here.
