US towerco American Tower has made an offering of US$500m in senior unsecured notes due in 2021.
According to an SEC filing today, the notes carry a coupon of 5.9%, priced at 99.858 and had a yield of 5.918%.
The joint bookrunners are Barclays Capital,…
US towerco American Tower has made an offering of US$500m in senior unsecured notes due in 2021.
According to an SEC filing today, the notes carry a coupon of 5.9%, priced at 99.858 and had a yield of 5.918%.
The joint bookrunners are Barclays Capital, BoA Merrill Lynch, Credit Agricole, RBC Capital Markets and RBS.
American Tower said in the filing that it intends to use US$495.2m of the proceeds from the offering in two areas.
Firstly, it will be used to finance acquisitions of tower sites in the US, as well as tower acquisitions in Africa, Latin America and the US.
Secondly, it will use the net proceeds to repay a portion of its debt under its revolving credit facility, which it has been primarily using to finance acquisitions.
Any remaining net proceeds will be used for general corporate purposes.
American Tower has made several acquisition agreements recently.
In July, it also borrowed an additional US$100m under its US$1.25bn senior unsecured revolving credit facility.
