Summary
American Tower Corporation (AMT) announced on August 4, 2014, the pricing of a public offering of $650 million in aggregate principal amount of senior unsecured notes due in 2021. These notes carry a coupon rate of 3.450% and were issued at a slight discount to their face value, specifically at 99.416% of par. This offering represents a debt financing activity aimed at raising capital for the company. Investors should note that this debt issuance is being used to fund general corporate purposes. The specific use of proceeds is not detailed beyond this broad statement. The company's ability to raise debt at this interest rate reflects its credit profile at the time. This event is primarily informational, indicating a financing transaction rather than a change in operational performance or strategic direction.
Key Highlights
- 1Priced a registered public offering of senior unsecured notes.
- 2Aggregate principal amount of the offering is $650.0 million.
- 3The notes mature in 2021.
- 4The interest rate (coupon) on the notes is 3.450% per annum.
- 5The notes were issued at a price of 99.416% of their face value.
- 6The offering is for general corporate purposes.
- 7Filed as an 8-K, with the press release attached as Exhibit 99.1.