American Tower holders tender 90.7% of $225 million 7½% notes to date

By Susanna Moon

Chicago, June 10 - American Tower Corp. said it received tenders of $204,141,000, or 90.7%, of its outstanding $225 million 7½% senior notes due 2012 by the early tender deadline of 5 p.m. ET on June 9.

The company said it paid about $210.1 million for the tendered notes, including accrued interest.

The tender offer will expire at 11:59 p.m. ET on June 23. It began on May 27.

The company is offering $1,021.25 per $1,000 principal amount, which includes an early tender premium of $30.00 per $1,000 principal amount of notes tendered by the early tender date of 5 p.m. ET on June 9.

Holders will also receive accrued interest up to but excluding the payment date.

American Tower said it may choose to purchase notes tendered by the early tender date before the offer expiration.

The tender offer is conditioned on the closing of a new debt offering by the company.

The company said it plans to call any notes that remain outstanding after the tender offer at a redemption price of $1,018.75 per $1,000 principal amount.

Credit Suisse Securities (USA) LLC (800 820-1653) is the dealer manager, and D.F. King & Co., Inc. (800 967-7921 or 212-269-5550) is the information agent.

American Tower is a Boston-based communications tower operator.

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