American Tower Corporation (NYSE: AMT) (the “Company”) today announced that certain of its indirect subsidiaries priced, in a private transaction, $1,800.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2013-1 and Series 2013-2 (collectively, the “Securities”). The Securities will be backed by the debt of two special-purpose subsidiaries that will be secured primarily by mortgages on their interests in 5,195 communications sites. The Series 2013-1 has a principal balance of $500.0 million, an interest rate of 1.551% and an expected life of approximately five years, with a final maturity of March 2043. The Series 2013-2 has a principal balance of $1,300.0 million, an interest rate of 3.070% and an expected life of approximately ten years, with a final maturity of March 2048.
The Company’s subsidiaries intend to use the net proceeds of this offering to repay all amounts outstanding under their debt backing the $1,750.0 million Commercial Mortgage Pass-Through Certificates, Series 2007-1, and for general corporate purposes.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the Securities, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The Securities subject to the proposed offering have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act, to institutional accredited investors and to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. Unless so registered, the Securities may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
About American TowerAmerican Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 54,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV