American Tower Corporation (NYSE: AMT) has announced the pricing of its registered public offering of senior unsecured notes due 2025 and 2030, in aggregate principal amounts of USD 750.0 million and USD 750.0 million, respectively, the company said.
The 2025 notes will have an interest rate of 2.400% per annum and are being issued at a price equal to 99.905% of their face value. The 2030 notes will have an interest rate of 2.900% per annum and are being issued at a price equal to 99.560% of their face value.
The net proceeds of the offering are expected to be approximately USD 1,483.4 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay existing indebtedness under its USD 2.25 billion senior unsecured revolving credit facility, as amended and restated in December 2019.
BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley and Scotiabank are acting as Joint Book-Running Managers for the offering.
American Tower, one of the largest global REITs, is an independent owner, operator and developer of multi-tenant communications real estate with a portfolio of approximately 179,000 communications sites.