Key Developments: American Tower Corp (AMT)

AMT on New York Consolidated

96.17USD
24 Oct 2014
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Latest Key Developments (Source: Significant Developments)

American Tower Corporation declares quarterly distributions
Wednesday, 10 Sep 2014 04:30pm EDT 

American Tower Corporation:Announces that its board of directors has declared its quarterly cash distribution of $0.36 per share on shares of the company's common stock.Says the distribution is payable on Oct. 7 to such stockholders of record at the close of business on Sept. 23.  Full Article

American Tower Corp prices senior notes offering
Monday, 4 Aug 2014 05:41pm EDT 

American Tower Corp:Prices registered public offering of senior unsecured notes due 2021, in aggregate principal amount of $650.0 mln.Notes will have interest rate of 3.450 pct per annum and are being issued at price equal to 99.416 pct of their face value.Net proceeds of offering are expected to be about $641.1 mln, after deducting underwriting discounts and estimated offering expenses.Company intends to use net proceeds to repay existing indebtedness under multi-currency $2.0 bln senior unsecured revolving credit facility.Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc. and Morgan Stanley & Co. LLC are acting as Joint Book-Running Managers for the offering.  Full Article

American Tower Corp raises FY 2014 revenue and EBITDA guidance; raises low end of prior FY 2014 net income guidance
Wednesday, 30 Jul 2014 07:00am EDT 

American Tower Corp:Raises midpoint of FY 2014 outlook for total rental and management revenue by $45 mln and adjusted EBITDA by $55 mln.Expects FY 2014 total rental and management revenue in the range of $3.945 bln to $4.015 bln.Expects FY 2014 adjusted EBITDA in the range of $2.615 bln to $2.655 bln.Expects FY 2014 net income in the range of $830 mln to $850 mln.FY 2014 EBITDA of $2.590 bln - Thomson Reuters I/B/E/S.  Full Article

American Tower Corp declares cash dividend
Tuesday, 29 Jul 2014 08:00pm EDT 

American Tower Corp:Declared dividend of $1.3563 per share, or about $8.1 mln, payable to preferred stockholders of record at close of business on Aug 1, 2014.  Full Article

American Tower Corp announces acquisition of BR Towers S.A. in Brazil
Sunday, 15 Jun 2014 10:30pm EDT 

American Tower Corp:Reaches agreement with GPCP V, a private equity fund managed by GP Investments, Ltd., FIP Multisetorial Plus, a private equity fund managed by Bradesco BBI, and other shareholders, to acquire 100 pct. of equity interests of BR Towers S.A.BR Towers S.A. is Brazilian telecommunications real estate company that is expected to own about 2,530 towers and exclusive use rights for about 2,110 additional towers in Brazil at closing.Purchase price of about 2.18 bln Brazilian Reais, (about $978 million at current exchange rates) subject to customary adjustments, will be satisfied with a combination of cash and the assumption of certain existing indebtedness.Transaction is expected to close in fourth quarter of 2014.American Tower was advised by Banco Santander (Brasil) S.A. as financial advisor, Kilpatrick Townsend & Stockton LLP as U.S. legal advisor and Koury Lopes Advogados as Brazilian legal advisor.  Full Article

American Tower Corp declares quarterly distributions
Wednesday, 21 May 2014 04:30pm EDT 

American Tower Corp:Declared quarterly cash distribution of $0.34 per share.Payable on July 16 to such stockholders of record at the close of business on June 17.  Full Article

American Tower announces closing of mandatory convertible preferred stock offering
Monday, 12 May 2014 04:30pm EDT 

American Tower Corp:Completes issuance of 6,000,000 shares of its 5.25pct Mandatory Convertible Preferred Stock, Series A.Amounts sold include 750,000 shares of Mandatory Convertible Preferred Stock issued pursuant to the underwriters' full exercise of the option to purchase additional shares.Net proceeds of about $582.9 mln.Intends to use the net proceeds to fund recent acquisitions and for general corporate purposes.Goldman, Sachs & Co., BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC were the joint book-running managers for the offering.  Full Article

American Tower Corp prices mandatory convertible preferred stock offering
Wednesday, 7 May 2014 07:30am EDT 

American Tower Corp:Pricing of its registered public offering of 5,250,000 shares of 5.25 pct mandatory convertible preferred stock, Series A, at $100.00 per share.Underwriters have an option to purchase up to an additional 750,000 shares.Net proceeds of this offering are expected to be about $509.9 mln.Intends to use net proceeds from this offering to fund recent acquisitions, including Richland Properties LLC and other related entities.Remainder of proceeds will be used for general corporate purposes.  Full Article

American Tower announces proposed public offering of mandatory convertible preferred stock
Monday, 5 May 2014 04:58pm EDT 

American Tower Corp:Intends to offer 4,250,000 shares of its Mandatory Convertible Preferred Stock, Series A in a registered public offering, subject to market and other conditions.Intends to use the net proceeds to fund recent acquisitions, including Richland Properties LLC and other related entities, initially funded by indebtedness incurred under multi-currency $2.0 bln senior unsecured revolving credit facility and for general corporate purposes.Goldman, Sachs & Co., BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC are the joint book-running managers for the offering.  Full Article

American Tower Corp raises FY 2014 guidance
Thursday, 1 May 2014 07:00am EDT 

American Tower Corp:Expects FY 2014 total rental and management revenue to be in the range of $3.895-$3.975 bln.Expects FY 2014 adjusted EBITDA in the range of $2.555-$2.605 bln.Expects FY 2014 net income in the range of $820 to $850 mln.FY 2014 revenue of $3.98 bln, EBITDA of $2.552 bln and net income in the range of $838 mln - Thomson Reuters I/B/E/S.  Full Article

Nextel carrier NII files for bankruptcy protection as debt soars

SAO PAULO - NII Holdings Inc , the parent of Nextel operators in Latin America, filed for U.S. bankruptcy protection on Monday after struggling for years with debt, fierce competition in Brazil and Mexico, and a dispute with a U.S. hedge fund.

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