Key Developments: American Tower Corp (AMT)

AMT on New York Consolidated

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27 Apr 2015
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Latest Key Developments (Source: Significant Developments)

American Tower Corp gives FY 2014 guidance below analysts' estimates
Tuesday, 25 Feb 2014 07:00am EST 

American Tower Corp:Expects fiscal 2014 total rental and management revenue of $3.820 bln to $3.910 bln.Expects fiscal 2014 adjusted EBITDA of $2.500 bln to $2.560 bln.Expects fiscal 2014 net income of $765 mln to $805 mln.Fiscal 2014 revenue of $3.983 bln, EBITDA of $2.579 bln and net income of $908 mln - Thomson Reuters I/B/E/S.  Full Article

American Tower Corp announces closing of senior notes offering
Friday, 10 Jan 2014 04:10pm EST 

American Tower Corp:Says completion of the issuance of $250 mln aggregate principal amount of its reopened 3.40 pct senior unsecured notes due 2019 and $500 mln aggregate principal amount of its reopened 5.00 pct senior unsecured notes due 2024.Says the reopened 2019 notes and the reopened 2024 notes were issued at an initial offering price of 102.940 pct and 102.458 pct per note, respectively and resulted in net proceeds to the company of about $763.8 mln after deducting commissions and estimated expenses.Says it intends to use the net proceeds to repay certain existing indebtedness used to fund its acquisition of MIP Tower Holdings LLC and other acquisitions.Says remainder of the proceeds, if any, will be used for general corporate purposes, including to repay other existing indebtedness.  Full Article

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

UPDATE 3-Verizon to sell wireline operations and towers worth over $15 bln

SAN FRANCISCO, Feb 5 - Verizon Communications Inc will sell wireline assets to Frontier Communications Corp for $10.54 billion in cash and cell phone towers worth over $5 billion to American Tower Corp, the company said on Thursday.

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