Summary
American Tower Corporation (AMT) announced on December 16, 2019, its decision to call for the redemption of all outstanding 5.900% senior unsecured notes due 2021. This proactive move by the company indicates a strategic financial decision, likely aimed at optimizing its capital structure and reducing borrowing costs. The redemption is scheduled for January 15, 2020. The redemption price will include the principal amount of the notes, a make-whole premium as defined by the indenture, and any accrued and unpaid interest up to the redemption date. Investors holding these specific notes should review the terms of the redemption, as it represents a full repayment of their investment plus a premium. This action suggests favorable market conditions or a belief by AMT that it can secure financing on better terms.
Key Highlights
- 1AMT elected to redeem all outstanding 5.900% senior unsecured notes due 2021.
- 2The redemption date is set for January 15, 2020.
- 3The redemption price will consist of the principal amount, a make-whole premium, and accrued interest.
- 4This action is detailed in a press release dated December 16, 2019, filed as an exhibit.
- 5The redemption is governed by the terms of the 5.900% Notes and their related indenture agreements.
- 6This move likely reflects AMT's strategy to manage its debt obligations and potentially lower its cost of capital.