American Tower Corporation (NYSE: AMT) (the “Company”) today announced
the completion of the issuance of 6,000,000 shares of its 5.25%
Mandatory Convertible Preferred Stock, Series A (the “Mandatory
Convertible Preferred Stock”). The amounts sold include 750,000 shares
of Mandatory Convertible Preferred Stock issued pursuant to the
underwriters’ full exercise of the option to purchase additional shares.
The offering resulted in net proceeds to the Company of approximately
$582.9 million after deducting underwriting discounts and estimated
offering expenses. The Company intends to use the net proceeds from this
offering to fund recent acquisitions, including Richland Properties LLC
and other related entities, 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.
Goldman, Sachs & Co., BofA Merrill Lynch, Barclays Capital Inc. and J.P.
Morgan Securities LLC were 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 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 contacting: Goldman,
Sachs & Co. at Attn: Prospectus Department, 200 West Street, New York,
NY 10282, or by telephone at 1-866-471-2526 or email at prospectus-ny@ny.email.gs.com;
BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus
Department or by email at dg.prospectus_requests@baml.com;
Barclays Capital Inc. at c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by telephone at 1-888-603-5847 or
email at Barclaysprospectus@broadridge.com;
and J.P. Morgan Securities LLC at c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, New York 11717 or by telephone 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, statements regarding 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