Summary
American Tower Corporation (AMT) announced on October 4, 2011, the pricing of a $500 million public offering of senior unsecured notes due in 2021. These notes will carry an interest rate of 5.900% per annum and were issued at a slight discount to their face value, priced at 99.858% of par. This offering represents a strategic move by AMT to raise capital, likely for general corporate purposes, expansion, or debt refinancing. Investors in these notes are lending to the company with a medium-term maturity and a fixed coupon, providing a predictable income stream. The filing also includes supplemental indenture forms and a press release detailing the offering, offering transparency into the terms and conditions of this significant debt issuance.
Key Highlights
- 1AMT priced a $500 million public offering of senior unsecured notes due 2021.
- 2The notes carry a fixed interest rate of 5.900% per annum.
- 3The offering price was 99.858% of the aggregate principal amount.
- 4The earliest event reported was October 3, 2011, the pricing date.
- 5The filing includes supplemental indenture forms and the press release announcing the offering.
- 6Thomas A. Bartlett, EVP and Chief Financial Officer, signed the report.