Summary
American Tower Corporation (AMT) announced on January 12, 2015, its decision to redeem all of its outstanding 4.625% senior unsecured notes due in 2015. This redemption is being executed in accordance with the terms outlined in the notes and the governing indenture. The company will repurchase these notes at a price including the principal amount, a make-whole premium, and any accrued interest up to the redemption date. The redemption is scheduled for February 11, 2015. This action suggests that American Tower has likely found more favorable financing options or is strategically managing its debt structure. Investors should note this event as it impacts the company's outstanding debt obligations and potentially its future interest expense.
Key Highlights
- 1American Tower Corporation (AMT) is calling for the redemption of all its 4.625% senior unsecured notes due 2015.
- 2The redemption is scheduled to occur on February 11, 2015.
- 3The notes will be redeemed at a price equal to the principal amount plus a make-whole premium and accrued interest.
- 4This action is executed under the terms of the Notes and the Indenture dated October 20, 2009.
- 5The company filed an 8-K on January 12, 2015, to announce this event.
- 6The press release announcing the redemption is attached as Exhibit 99.1.