American Tower Corporation announced the pricing of a registered public offering of senior unsecured notes totaling $1.0 billion. The offering includes $650.0 million in notes due 2030 with an interest rate of 4.900% per annum, issued at 99.846% of face value.
Additionally, $350.0 million in notes due 2035 were priced with an interest rate of 5.350% per annum, issued at 99.724% of their face value. The net proceeds from this offering are expected to be approximately $988.9 million after deducting underwriting discounts and estimated expenses.
American Tower intends to use these net proceeds to repay its 2.400% senior unsecured notes due 2025, to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, and for general corporate purposes. This action aims to proactively manage debt maturities and maintain financial flexibility.
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