American Tower has announced the pricing of its registered public offering of senior unsecured notes due 2028 and 2032, in aggregate principal amounts of 750.0 million Euros (approximately $893.4 million) and 650.0 million Euros ($744.3 million), respectively.
The 2028 notes will have an interest rate of 0.500% per annum and are being issued at a price equal to 99.555 percent of their face value. The 2032 notes will have an interest rate of 1.000% per annum and are being issued at a price equal to 99.575 percent of their face value. The net proceeds of the offering are expected to be approximately 1,385.2 million Euros ($1,650.0 million), after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay existing indebtedness under its $3.1 billion senior unsecured multicurrency revolving credit facility, as amended and restated in December 2019, and the $1.19 billion senior unsecured term loan entered into in April 2020 and for general corporate purposes.
BofA Securities, Morgan Stanley, Santander and TD Securities are acting as Joint Book-Running Managers for the offering.