Key Developments: American Tower Corp (AMT)

AMT on New York Consolidated

95.76USD
30 Jul 2014
Price Change (% chg)

$3.41 (+3.69%)
Prev Close
$92.35
Open
$93.57
Day's High
$97.56
Day's Low
$93.57
Volume
1,659,619
Avg. Vol
1,607,024
52-wk High
$97.56
52-wk Low
$67.89

Search Stocks

Latest Key Developments (Source: Significant Developments)

NII Holdings Inc announces closing of sale of communications sites in Brazil to American Tower Corporation
Monday, 9 Dec 2013 09:00am EST 

NII Holdings Inc:Says completion of the previously announced transaction to sell certain communications sites in Brazil to American Tower Corporation.Says as part of the transaction, the company sold 1,940 communications sites to American Tower for total proceeds of 813.8 million brazilian reias, which is equivalent to $348 million based on current foreign currency exchange rates.Says as part of the transaction, Nextel Brazil agreed to lease back the communications sites from American Tower for a minimum 12 year initial lease term and has the option to extend the lease for additional renewal periods.  Full Article

American Tower Corp declares quarterly distribution
Wednesday, 4 Dec 2013 04:30pm EST 

American Tower Corp:Declares a quarterly cash distribution of $0.29 per share.Says distribution is payable on Dec. 31 to stockholders of record at the close of business on Dec. 16.  Full Article

NII Holdings Announces Closing Of Sale Of Communications Sites In Mexico To American Tower Corporation
Monday, 11 Nov 2013 02:30pm EST 

NII Holdings, Inc announced that the completion of the previously announced transaction to sell certain communications sites to American Tower Corporation. As part of the transaction, the Company sold 1,483 communications sites in Mexico to American Tower for total proceeds of MXN4.95 billion, which is equivalent to USD374.3 million based on current foreign currency exchange rates. As part of the transaction, Nextel Mexico agreed to lease back the communications sites from American Tower for a minimum 12-year initial lease term and has the option to extend the lease for additional renewal periods. The Company expects to complete the sale of the remaining communications sites in Mexico that were agreed to be sold once closing conditions are met.  Full Article

American Tower Corp Updates FY 2013 Guidance
Wednesday, 30 Oct 2013 07:00am EDT 

American Tower Corp announced that for fiscal 2013, it expects total rental and management revenue in the range of $3.250-$3.280 billion, adjusted EBITDA in the range of $2.150-$2.180 billion and net income in the range of $580-$620 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $3.29 billion, EBITDA of $2.13 billion and net income of $701 million for fiscal 2013.  Full Article

American Tower Corp Completes Acquisition of Global Tower Partners
Tuesday, 1 Oct 2013 05:00pm EDT 

American Tower Corp announced that it has completed its previously announced acquisition of 100% of the outstanding common membership interests of MIP Tower Holdings LLC, a private real estate investment trust, which is the parent company of Global Tower Partners (GTP), an owner and operator of communications real estate, and related companies. GTP was majority owned by Macquarie Infrastructure Partners together with minority partners including Dutch pension fund manager PGGM and management. As consideration for the acquisition, American Tower assumed approximately $1.5 billion of existing GTP debt and paid approximately $3.3 billion in cash. American Tower used approximately $2.8 billion of borrowings under its existing revolving credit facilities and approximately $0.5 billion of cash on hand to satisfy the cash portion of the purchase price.  Full Article

American Tower Corp Enters Into Loan Agreement-Form 8-K
Monday, 23 Sep 2013 08:40am EDT 

American Tower Corp reported in its Form 8-K that on September 20, 2013, the Company entered into a loan agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, The Royal Bank of Scotland plc and TD Securities (USA) LLC, as syndication agents, and J.P. Morgan Securities LLC, RBS Securities Inc. and TD Securities (USA) LLC, as joint lead arrangers and joint bookrunners. The Loan Agreement provides for a $1.0 billion revolving credit facility. The Revolving Credit Facility does not require amortization of payments and may be repaid prior to maturity in whole or in part at the Company‚Äôs option without penalty or premium. The unutilized portion of the commitments under the Revolving Credit Facility may be irrevocably reduced or terminated by the Company in whole or in part without penalty. The Revolving Credit Facility matures on September 19, 2014.  Full Article

American Tower Corp Declares Quarterly Distribution
Thursday, 12 Sep 2013 05:00pm EDT 

American Tower Corp announced that its board of directors has declared its quarterly cash distribution of $0.28 per share. The distribution is payable on October 7, 2013 to stockholders of record at the close of business on September 23, 2013.  Full Article

American Tower Corp To Buy Global Tower Partners-Reuters
Saturday, 7 Sep 2013 12:06pm EDT 

Reuters reported that American Tower Corp said it would buy the parent of telecom tower operator Global Tower Partners for $3.3 billion. The Company will also assume $1.5 billion in debt as part of the deal.  Full Article

American Tower Corp Announces Agreement To Acquire Global Tower Partners
Friday, 6 Sep 2013 08:03am EDT 

American Tower Corp announced that it has entered into a definitive agreement to acquire 100% of the outstanding common membership interests of MIP Tower Holdings LLC, a private real estate investment trust, which is the parent company of Global Tower Partners (GTP), and related companies, for a total purchase price of approximately $4.8 billion, subject to customary adjustments. GTP is majority owned by Macquarie Infrastructure Partners together with minority partners including Dutch pension fund manager PGGM and management. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2013. American Tower was advised by Goldman, Sachs & Co. and EA Markets Securities LLC, as financial advisors, and Clifford Chance US LLP and Sullivan & Worcester LLP, as legal advisors. GTP was advised by Deutsche Bank Securities Inc. as exclusive financial advisor. The purchase price is expected to be satisfied with approximately $3.3 billion in cash and the assumption of approximately $1.5 billion of existing indebtedness. American Tower expects to use cash on hand and borrowing capacity under its existing revolving credit facilities, as supplemented by additional anticipated sources of debt financing, to satisfy the cash consideration for this acquisition and other previously announced acquisitions.  Full Article

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.  Full Article

UPDATE 1-India's Viom looking at stake sale or overseas IPO to raise funds-sources

* Indian telecom tower firms recovering after 2012 setback (Adds details on stake sale, banks' names, company valuation, industry context)

Search Stocks