American Tower Corp : American Tower Corporation Prices Senior Notes Offering
03/07/2012| 05:40pm US/Eastern
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American Tower Corporation (NYSE: AMT) today announced the pricing of
its registered public offering of senior unsecured notes due March 15,
2022, in an aggregate principal amount of $700 million. The notes will
have an interest rate of 4.70% per annum and are being issued at a price
equal to 99.810% of their face value. The net proceeds of the offering
are expected to be approximately $693.0 million, after deducting
underwriting discounts and estimated offering expenses. The Company
intends to use the net proceeds from this offering to refinance existing
indebtedness incurred under its credit facilities, which have been used
to fund recent acquisitions.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho
Securities USA Inc., Morgan Stanley & Co. LLC and TD Securities (USA)
LLC are acting as joint book-running managers for the offering of the
notes.
This press release shall not constitute an offer to sell or a
solicitation to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The offering is being made only by means of a prospectus
and related prospectus supplement, which may be obtained by visiting the
Securities and Exchange Commission's website at www.sec.gov.
Alternatively, you may request these documents by calling Citigroup
Global Markets Inc. toll-free at 1-877-858-5407, J.P. Morgan Securities
LLC collect at 1-212-834-4533, Mizuho Securities USA Inc. toll-free at
1-866-271-7403, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 and
TD Securities (USA) LLC toll-free at 1-800-263-5292.
About American Tower
American Tower is a leading independent global owner, operator and
developer of broadcast and wireless communications sites. American Tower
currently owns and operates over 45,000 communications sites in the
United States, Brazil, Chile, Colombia, India, Ghana, Mexico, Peru and
South Africa.
Cautionary Language Regarding Forward-Looking Statements
This press release contains statements about future events and
expectations, or "forward-looking statements", all of which are
inherently uncertain. The Company has based those forward-looking
statements on management's current expectations and assumptions and not
on historical facts. Examples of these statements include, but are not
limited to, statements regarding the Company's expectations of the
dollar amount to be received in net proceeds, the Company's ability to
complete the offering and the Company's expectations for the use of
proceeds from the offering. These forward-looking statements involve a
number of risks and uncertainties. Among the important factors that
could cause actual results to differ materially from those indicated in
such forward-looking statements include market conditions for corporate
debt generally, for the securities of telecommunications companies and
for the Company's indebtedness in particular. For other important
factors that may cause actual results to differ materially from those
indicated in our forward-looking statements, we refer you to the
information contained in the prospectus supplement for this offering and
Item 1A of the Form 10-K for the year ended December 31, 2011 under the
caption "Risk Factors" and in other filings the Company makes with the
Securities and Exchange Commission. The Company undertakes no obligation
to update the information contained in this press release to reflect
subsequently occurring events or circumstances.
American Tower Corporation
Leah Stearns, 617-375-7500
Director,
Investor Relations
© Business Wire 2012
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