American Tower Announces Prices For Senior Notes OfferingComments Off on American Tower Announces Prices For Senior Notes Offering
Today American Tower announced the pricing of their registered public offering of senior unsecured notes that will be due in 2019 and 2024. The principal amounts are $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 American Tower press release explained.
American Tower plans to use the proceeds from these notes to repay existing debt that they incurred under the 2013 Credit Facility.