Summary
American Tower Corporation (AMT) announced on June 19, 2009, its decision to redeem its outstanding 7.50% senior notes due 2012. This action follows the expiration of a previously announced tender offer for these notes, scheduled for June 23, 2009. The redemption will occur on July 20, 2009. Investors holding these notes will receive a redemption price of 101.875% of the principal amount, plus any accrued and unpaid interest up to the redemption date. This move indicates the company's strategy to manage its debt obligations, potentially refinancing at more favorable terms or deleveraging its balance sheet in the prevailing market conditions.
Key Highlights
- 1AMT is calling for the redemption of its 7.50% senior notes due 2012.
- 2The redemption will take place on July 20, 2009.
- 3The redemption price is set at 101.875% of the principal amount.
- 4Accrued and unpaid interest will also be paid up to the redemption date.
- 5This action is a follow-up to a previously announced tender offer for these notes, which expired on June 23, 2009.
- 6The company is actively managing its debt structure, likely in response to market conditions or to optimize its capital costs.