American Tower has closed its issuance of US$250m reopened senior unsecured notes due 2019 and US$500m reopened senior unsecured notes due 2024.
The offering generated net proceeds of about US$763.9m, including US$13.12m in accrued interest, the US…
American Tower has closed its issuance of US$250m reopened senior unsecured notes due 2019 and US$500m reopened senior unsecured notes due 2024.
The offering generated net proceeds of about US$763.9m, including US$13.12m in accrued interest, the US towerco said in a statement.
The 3.4% 2019 notes and 5% 2024 notes had an initial offering price of 102.94% and 102.458% respectively.
The reopened 2019 notes will have the same terms, be interchangeable with and be part of a series of US$750m of senior unsecured notes issued on 13 August 2013 and set to mature on 15 February 2019.
The reopened 2024 notes will have the same terms, be interchangeable with and be part of a series of US$500m of senior unsecured notes also issued on 13 August 2013 and set to mature on 15 February 2024.
Bookrunners for the offering were Barclays, Goldman Sachs, RBC Capital Markets, RBS Securities and TD Securities.
Boston-based American Tower plans to use the proceeds to repay existing debt and fund its purchase of MIP Tower Holdings and other acquisitions. American Tower agreed last year to buy MIP Tower, the parent company of the US’ Global Tower Partners, for an enterprise value of US$4.8bn.
American Tower claims to own and operate about 66,000 wireless and broadcast communications sites in the US, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda.
