American Tower Corp. Announces Closing Of Senior Notes Offering - Quick Facts

(RTTNews) - American Tower Corp. (AMT) announced the completion of the issuance of $250 million aggregate principal amount of its reopened 3.40% senior unsecured notes due 2019 and $500 million aggregate principal amount of its reopened 5.00% senior unsecured notes due 2024.

The company said the reopened 2019 notes and the reopened 2024 notes were issued at an initial offering price of 102.940% and 102.458% per note, respectively and resulted in net proceeds to the company of about $763.8 million, after deducting commissions and estimated expenses.

American Tower said it intends to use the net proceeds to repay certain existing indebtedness used to fund its acquisition of MIP Tower Holdings LLC and other acquisitions. The remainder of the proceeds, if any, will be used for general corporate purposes, including to repay other existing indebtedness.