BOSTON–(BUSINESS WIRE)–American Tower Corporation (NYSE: AMT) today announced the pricing of
its registered public offering of senior unsecured notes due 2025 and
2029, in aggregate principal amounts of $650.0 million and $1.65
billion, respectively. The 2025 notes will have an interest rate of
2.950% per annum and are being issued at a price equal to 99.188% of
their face value. The 2029 notes will have an interest rate of 3.800%
per annum and are being issued at a price equal to 99.599% of their face
value. The net proceeds of the offering are expected to be approximately
$2,269.0 million, after deducting underwriting discounts and estimated
offering expenses. American Tower intends to use the net proceeds to
repay existing indebtedness under its multicurrency senior unsecured
revolving credit facility entered into in June 2013, as amended, and its
senior unsecured revolving credit facility entered into in January 2012,
as amended and restated in September 2014, as further amended.
BofA Merrill Lynch, Citigroup, J.P. Morgan, Morgan Stanley and SMBC
Nikko are acting as Joint Book-Running Managers for the offering.
This press release shall not constitute an offer to sell or a
solicitation to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering was made only by means of a prospectus and
related prospectus supplement, which may be obtained by visiting the
Securities and Exchange Commission’s website at www.sec.gov.
Alternatively, you may request these documents by calling BofA
Securities, Inc. toll-free at 1-800-294-1322, Citigroup Global Markets
Inc. toll-free at 1-800-831-9146, J.P. Morgan Securities LLC collect at
1-212-834-4533, Morgan Stanley & Co. LLC toll-free at 1-800-624-1808 or
SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856.
About American Tower
American Tower, one of the largest global REITs, is a leading
independent owner, operator and developer of multitenant communications
real estate with a portfolio of over 170,000 communications sites.
Cautionary Language Regarding Forward-Looking Statements
This press release contains statements about future events and
expectations, or “forward-looking statements,” all of which are
inherently uncertain. American Tower has based those forward-looking
statements on management’s current expectations and assumptions and not
on historical facts. Examples of these statements include, but are not
limited to, statements regarding the expectations of the amount to be
received in net proceeds, American Tower’s ability to complete the
offering and its expectations for the use of proceeds from the offering.
These forward-looking statements involve a number of risks and
uncertainties. Among the important factors that could cause actual
results to differ materially from those indicated in such
forward-looking statements include market conditions for corporate debt
generally, for the securities of telecommunications companies and for
American Tower’s indebtedness in particular. For other important factors
that may cause actual results to differ materially from those indicated
in American Tower’s forward-looking statements, we refer you to the
information contained in the prospectus supplement for this offering and
Item 1A of the Form 10-K for the year ended December 31, 2018 under the
caption “Risk Factors” and in other filings American Tower makes with
the Securities and Exchange Commission. American Tower undertakes no
obligation to update the information contained in this press release to
reflect subsequently occurring events or circumstances.
Vice President, Investor Relations