American Tower plans to pay back some loans with note issue proceeds

By Susanna Moon

Chicago, Oct. 3 - American Tower Corp. plans to repay some or all of the debt under its revolving credit facility due June 8, 2012 with an offering of 10-year callable senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The five-year revolver had $275 million outstanding as of June 30. In July, the company drew another $100 million under the revolver, according to the filing.

Interest on the loans was 0.82% as of June 30.

Proceeds from the notes issue will also finance acquisitions and for general corporate purposes.

American Tower is a Boston-based wireless and broadcast communications infrastructure company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.