Summary
American Tower Corporation (AMT) filed an 8-K on March 22, 2017, to disclose its intention to raise capital through a Euro-denominated debt issuance. The company has mandated several major investment banks to organize investor meetings starting March 27, 2017, with an anticipated launch of a benchmark Euro-denominated senior unsecured debt offering maturing in 7-8 years, subject to market conditions. This move suggests the company is seeking to diversify its funding sources and potentially take advantage of favorable European debt markets at the time.
Key Highlights
- 1AMT announced plans for European fixed income investor meetings starting March 27, 2017.
- 2The company intends to issue Euro-denominated, senior unsecured debt.
- 3The planned debt issuance will have an approximate maturity of 7-8 years.
- 4The offering is expected to be a benchmark transaction, indicating a significant size.
- 5The issuance is contingent upon prevailing market conditions.
- 6Barclays, BofA Merrill Lynch, Citigroup, HSBC, and J.P. Morgan are the mandated lead managers for the offering.