American Tower Corp Prices Senior Notes Offering


Thursday, 3 Jan 2013 05:27pm EST 

American Tower Corp announced the pricing of its registered public offering of senior unsecured notes due January 31, 2023, in an aggregate principal amount of $1 billion. The notes will have an interest rate of 3.50% per annum and are being issued at a price equal to 99.185% of their face value. The net proceeds of the offering are expected to be approximately $983.4 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from this offering to refinance some or all of the existing indebtedness incurred under its credit facilities, which has been primarily used to fund recent acquisitions. Barclays Capital Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and RBS Securities Inc. are acting as joint book-running managers for the offering of the notes. 

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