American Tower to repay revolver borrowings via tower revenue notes

By Marisa Wong

Morgantown, W.Va., March 28 – American Tower Corp. plans to repay borrowings under its revolving credit facilities using proceeds from an offering of secured tower revenue securities, according to an 8-K filing with the Securities and Exchange Commission.

The company priced, through some indirect subsidiaries, $500 million of 3.652% series 2018-1, subclass A securities due 2048.

American Tower is a Boston-based real estate investment trust with a focus on multitenant communications real estate.

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