American Tower Corporation Prices Senior Notes Offering

Rhea-AI Summary

American Tower Corporation announces pricing of senior unsecured notes offering

Positive

• The offering is expected to generate approximately $1,482.8 million in net proceeds
• The proceeds will be used to repay existing debt

Negative

• None.

BOSTON--(BUSINESS WIRE)-- American Tower Corporation (NYSE: AMT) today announced the pricing of its registered public offering of senior unsecured notes due 2028 and 2033 in aggregate principal amounts of $750.0 million and $750.0 million, respectively. The 2028 notes will have an interest rate of 5.800% per annum and are being issued at a price equal to 99.828% of their face value. The 2033 notes will have an interest rate of 5.900% per annum and are being issued at a price equal to 99.649% of their face value.

The net proceeds of the offering are expected to be approximately $1,482.8 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility.

Barclays, Mizuho, RBC Capital Markets, SOCIETE GENERALE and TD Securities are acting as Joint Book-Running Managers for the offering.

This press release shall not constitute an offer to sell or a solicitation to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus and related prospectus supplement, which may be obtained by visiting the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, you may request these documents by calling Barclays Capital Inc. at 1-888-603-5847, Mizuho Securities USA LLC at 1-866-271-7403, RBC Capital Markets, LLC at 1-866-375-6829, SG Americas Securities, LLC at 1-855-881-2108 or TD Securities (USA) LLC at 1-855-495-9846.

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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities. For more information about American Tower, please visit the “Earnings Materials” and “Investor Presentations” sections of our investor relations website at www.americantower.com.

Cautionary Language Regarding Forward-Looking Statements

This press release contains “forward-looking statements” concerning the Company’s goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions and other statements that are not necessarily based on historical facts. Actual results may differ materially from those indicated in the Company’s forward-looking statements as a result of various factors, including those factors set forth in Item 1A of its Form 10-K for the year ended December 31, 2022, K, as updated in its Form 10-Q for the six months ended June 30, 2023, under the caption “Risk Factors.” The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230912370641/en/

Adam Smith

Senior Vice President, Investor Relations

Telephone: (617) 375-7500

Source: American Tower Corporation