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American Tower Corp Prices Senior Notes Offering-DJ


Wednesday, 14 Aug 2013 05:23pm EDT 

Dow Jones reported that American Tower Corporation announced the pricing of its registered public offering of senior unsecured notes due 2019 and 2024, in aggregate principal amounts of $750 million and $500 million, respectively. The 2019 notes will have an interest rate of 3.40% per annum and are being issued at a price equal to 99.911% of their face value. The 2024 notes will have an interest rate of 5.00% per annum and are being issued at a price equal to 99.888% of their face value. The net proceeds of the offering are expected to be approximately $1,238.7 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from this offering to repay existing indebtedness incurred under the 2013 Credit Facility and/or other credit facilities, finance recently announced acquisitions and for general corporate purposes. Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., Morgan Stanley & Co. LLC and TD Securities (USA) LLC are acting as joint book-running managers for the offering.