This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Tower Corporation Announces Closing Of Securities Offering

American Tower Corporation (NYSE: AMT) (the “Company”) today announced that American Tower Depositor Sub, LLC, a special-purpose subsidiary of the Company completed the previously announced private offering of $1,800.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2013-1 and Series 2013-2 (collectively, the "Securities"). The Securities are backed by the debt of two other special-purpose subsidiaries of the Company and the debt is secured primarily by mortgages on the subsidiaries’ 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 used a substantial portion of the proceeds (after payment of underwriting commissions and other transaction expenses and funding of certain reserve accounts) of this offering to repay all amounts outstanding under the debt backing the $1,750.0 million Commercial Mortgage Pass-Through Certificates, Series 2007-1, and will use the remainder of the proceeds for general corporate purposes.

This press release 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs