American Tower Corporation (NYSE: AMT) (the “Company”) today announced
the pricing of its registered public offering of senior unsecured notes
due January 31, 2023, in an aggregate principal amount of $1 billion.
The notes will have an interest rate of 3.50% per annum and are being
issued at a price equal to 99.185% of their face value. The net proceeds
of the offering are expected to be approximately $983.4 million, after
deducting underwriting discounts and estimated offering expenses. The
Company intends to use the net proceeds from this offering to refinance
some or all of the existing indebtedness incurred under its credit
facilities, which has been primarily used to fund recent acquisitions.
Barclays Capital Inc., J.P. Morgan Securities LLC, RBC Capital Markets,
LLC and RBS Securities Inc. are acting as joint book-running managers
for the offering of the notes.
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 is being 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. toll-free at 1-888-603-5847, J.P. Morgan Securities LLC
collect at 1-212-834-4533, RBC Capital Markets, LLC toll-free at
1-866-375-6829 and RBS Securities Inc. toll-free at 1-866-884-2071.
About American Tower
American Tower is a leading independent global owner, operator and
developer of broadcast and wireless communications sites. American Tower
currently owns and operates over 53,000 communications sites in the
United States, Brazil, Chile, Colombia, India, Germany, Ghana, Mexico,
Peru, South Africa and Uganda.
Cautionary Language Regarding Forward-Looking Statements
This press release contains statements about future events and
expectations, or “forward-looking statements,” all of which are
inherently uncertain. The Company has based those forward-looking
statements on management’s current expectations and assumptions and not
on historical facts. Examples of these statements include, but are not
limited to, statements regarding the Company’s expectations of the
dollar amount to be received in net proceeds, the Company’s ability to
complete the offering and the Company’s expectations for the use of
proceeds from the offering. These forward-looking statements involve a
number of risks and uncertainties. Among the important factors that
could cause actual results to differ materially from those indicated in
such forward-looking statements include market conditions for corporate
debt generally, for the securities of telecommunications companies and
for the Company’s indebtedness in particular. For other important
factors that may cause actual results to differ materially from those
indicated in our forward-looking statements, we refer you to the
information contained in the prospectus supplement for this offering and
Item 1A of the Form 10-Q for the nine months ended September 30, 2012
under the caption “Risk Factors” and in other filings the Company makes
with the Securities and Exchange Commission. The Company undertakes no
obligation to update the information contained in this press release to
reflect subsequently occurring events or circumstances.
