American Tower Corporation Announces Completion of Redemption of All Outstanding 4.70% Senior Notes

Rhea-AI Summary

American Tower Corporation (NYSE: AMT) has successfully completed the redemption of its outstanding 4.70% senior unsecured notes due 2022. The notes were redeemed at 101.7270% of their principal amount, totaling approximately $715.1 million, which includes $3.0 million in accrued interest. This redemption was financed with cash on hand, and following this action, there are no remaining 4.70% notes outstanding.

Positive

• Successful redemption of 4.70% senior unsecured notes enhancing balance sheet.
• Total redemption price was approximately $715.1 million, including $3.0 million in accrued interest.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- American Tower Corporation (NYSE: AMT) today announced that it has completed its previously announced redemption of all of its outstanding 4.70% senior unsecured notes due 2022. The Company redeemed the notes pursuant to their terms at 101.7270% of the principal amount, plus accrued and unpaid interest up to, but excluding, October 18, 2021. The total aggregate redemption price was approximately $715.1 million, including $3.0 million in accrued interest. The Company financed the redemption with cash on hand. Upon completion of this redemption, none of the 4.70% notes remained outstanding.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 214,000 communications sites. For more information about American Tower, please visit www.americantower.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018005932/en/

Igor Khislavsky

Vice President, Investor Relations

Telephone: (617) 375-7500

Source: American Tower Corporation

FAQ

What was the total amount of the notes redeemed by American Tower Corporation on October 18, 2021?

American Tower Corporation redeemed approximately $715.1 million of its 4.70% senior unsecured notes due 2022.

How much accrued interest was included in the redemption price for the 4.70% senior unsecured notes by AMT?

The redemption price included $3.0 million in accrued interest.

What percentage of the principal amount did American Tower pay to redeem its notes?

American Tower paid 101.7270% of the principal amount to redeem its notes.

How did American Tower finance the redemption of its 4.70% senior unsecured notes?

The redemption was financed with cash on hand.

What type of securities did American Tower Corporation redeem recently?

American Tower Corporation redeemed its outstanding 4.70% senior unsecured notes due 2022.