American Tower Mulls Public Offering Of 8.35 Mln Shares

(RTTNews) - American Tower Corporation (AMT), a real estate investment trust, said Thursday that it is planning for a public offering of 8.35 million shares.

The company intends to use the net proceeds from this offering to pay down debts under its $3 billion 364-day U.S. Dollar-denominated unsecured term loan entered into in December 2021, that was used to finance the CoreSite acquisition.

In connection with this offering, American Tower also intends to grant the underwriters an option to purchase up to an additional 0.835 million shares.

J.P. Morgan is acting as lead book-running manager for the offering. In addition, Citigroup, Mizuho Securities, Morgan Stanley and TD Securities are also serving as joint book-running managers.