American Tower Corporation (NYSE: AMT) (the “Company”) today 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.
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 Citigroup
Global Markets Inc. at 1-800-831-9146, Merrill Lynch, Pierce, Fenner &
Smith at 1-800-294-1322, Mizuho Securities USA Inc. at 1-866-271-7403,
Morgan Stanley & Co. LLC at 1-866-718-1649 and TD Securities (USA) LLC
at 1-855-495-9846.
About American Tower
American Tower is a leading independent owner, operator and developer of
wireless and broadcast communications real estate. American Tower
currently owns and operates over 56,000 communications sites in the
United States, Brazil, Chile, Colombia, India, Germany, Ghana, India,
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 the Company’s 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 quarter ended June 30, 2013 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.
Copyright Business Wire 2013