AMERICAN TOWER CORP /MA/ (AMT): debt financing — American Tower issues $1.5B of 5.250% and 5.550% senior notes due 2028/2033

AMERICAN TOWER CORP /MA/

$650M of 5.250% notes due 2028 and $850M of 5.550% notes due 2033 issued in registered public offering.
Net proceeds of ~$1.482B to repay existing debt under $6.0B senior unsecured revolving credit facility.
Notes are senior unsecured; callable at make-whole premium prior to June 15, 2028 (2028 notes) or April 15, 2033 (2033 notes).
Covenants include a 3.5x Adjusted EBITDA lien limit and a change-of-control put at 101% of principal.
Interest payable semi-annually on Jan 15 and Jul 15, beginning Jan 15, 2024.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AMERICAN TOWER CORP /MA/ incurred senior notes of $650.0 million aggregate principal amount of its 5.250% senior unsecured notes due 2028 and $850.0 million aggregate pri with U.S. Bank Trust Company, National Association at 5.250% per annum for the 2028 notes and 5.550% per annum for the 2033 notes maturing July 15, 2028 (2028 notes) and July 15, 2033 (2033 notes).

Instrument: senior notes
Principal: $650.0 million aggregate principal amount of its 5.250% senior unsecured notes due 2028 and $850.0 million aggregate pri
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.250% per annum for the 2028 notes and 5.550% per annum for the 2033 notes
Maturity: July 15, 2028 (2028 notes) and July 15, 2033 (2033 notes)
Event: incurrence

Exact text from the filing

On May 25, 2023, American Tower Corporation (the “Company”) completed a registered public offering of $650.0 million aggregate principal amount of its 5.250% senior unsecured notes due 2028 (the “2028 notes”) and $850.0 million aggregate principal amount of its 5.550% senior unsecured notes due 2033 (the “2033 notes” and, together with the 2028 notes, the “Notes”), which resulted in aggregate net proceeds to the Company of approximately $1,481.9 million, after deducting commissions and estimated expenses.

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10 debt financings filed in the last 30 days. Browse all debt financings →

AMERICAN TOWER CORP /MA/ filing history →

Source: SEC EDGAR

accession 0001193125-23-154223

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