Summary
American Tower Corporation (AMT) announced on March 7, 2012, that it priced a registered public offering of $700 million in senior unsecured notes due in 2022. These notes carry a coupon rate of 4.70% and were issued at a slight discount to face value, at 99.810%. This offering represents a capital raising initiative by AMT, likely to fund its ongoing operations, strategic investments, or refinance existing debt. Investors should note that the issuance of new debt increases the company's leverage. The accompanying press release and supplemental indenture provide further details on the terms and conditions of this debt issuance. The inclusion of the Computation of Ratio of Earnings to Fixed Charges from its previous 10-K filing offers context on the company's ability to service its debt obligations.
Key Highlights
- 1AMT priced a $700 million registered public offering of senior unsecured notes.
- 2The notes are due in 2022.
- 3The annual interest rate on the notes is 4.70%.
- 4The notes were issued at 99.810% of their face value.
- 5The offering occurred on March 7, 2012.
- 6The filing includes the press release announcing the pricing and related indenture forms.
- 7The company's ratio of earnings to fixed charges from its 10-K is incorporated by reference.