American Tower Corporation (NYSE: AMT) (the “Company”) today announced
that it intends to offer 4,250,000 shares of its Mandatory Convertible
Preferred Stock, Series A in a registered public offering, subject to
market and other conditions. The Company intends to use the net proceeds
from this offering to fund recent acquisitions, including Richland
Properties LLC and other related entities (“Richland”), initially funded
by indebtedness incurred under its multi-currency $2.0 billion senior
unsecured revolving credit facility. The remainder of the proceeds will
be used for general corporate purposes. The Company intends to grant the
underwriters the option to purchase an additional 637,500 shares of its
Mandatory Convertible Preferred Stock.
Goldman, Sachs & Co., BofA Merrill Lynch, Barclays Capital Inc. and J.P.
Morgan Securities LLC are the 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 will be 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 contacting Goldman,
Sachs & Co. at 1-866-471-2526, BofA Merrill Lynch at dg.prospectus_requests@baml.com,
Barclays Capital Inc. at 1-888-603-5847 and J.P. Morgan Securities LLC
at 1-866-803-9204.
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 approximately 68,000 communications sites in
the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana,
India, Mexico, Panama, 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, the Company’s ability to complete the offering and the
Company’s anticipated 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 prevailing market conditions and other factors. For more
information about potential risk factors that could affect the Company
and its results, 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 March 31, 2014 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 2014