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American Tower Corp. Reports Closing of Senior Notes Offering

January 24, 2014

American Tower Corp. announced the completion of the issuance of $250 million aggregate principal amount of its reopened 3.40 percent senior unsecured notes due 2019 and $500 million aggregate principal amount of its reopened 5.00 percent senior unsecured notes due 2024. According to a release, the reopened 2019 notes and the reopened 2024 notes were issued at an initial offering price of 102.940 percent and 102.458 percent per note, respectively and resulted in net proceeds to the Company of approximately $763.8 million (plus $13,120,833.34 of accrued interest), after deducting commissions and estimated expenses. The Company intends to use the net proceeds to repay certain existing indebtedness used to fund its acquisition of MIP Tower Holdings and other acquisitions. The remainder of the proceeds, if any, will be used for general corporate purposes, including to repay other existing indebtedness. The Company issued the reopened notes under an indenture dated as of May 23, 2013 , as supplemented by a supplemental indenture dated as of August 19, 2013 , each between the Company and U.S. Bank National Association , as trustee. The reopened 2019 notes will have identical terms, be fungible with and be a part of a single series of senior debt securities with the $750 million principal amount of the 2019 notes issued on August 19, 2013 , which will mature on February 15, 2019 and bear interest at a rate of 3.40 percent per annum. The reopened 2024 notes will have identical terms, be fungible with and be a part of a single series of senior debt securities with the $500 million principal amount of the 2024 notes issued on August 19, 2013 , which will mature on February 15, 2024 and bear interest at a rate of 5.00 percent per annum. Barclays Capital Inc. , Goldman, Sachs & Co. , RBC Capital Markets , RBS Securities Inc. and TD Securities ( USA ) acted as bookrunners for the offering. American Tower is an owner, operator and developer of wireless and broadcast communications real estate. ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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