American Tower buys back $147 million 12¼% discount notes

Pittsburgh, Oct. 28 - American Tower Corp. bought back $147 million face amount of its 12¼% senior subordinated discount notes due 2008 in the third quarter and fourth quarters, according to a company news release.

The company paid $110 million cash for the 12¼% notes, which had accreted value of $85 million net of $7 million fair value discount allocated to the warrants.

Of the total, $ 84 million face amount was purchased in the third quarter and $63 million face amount after the end of the quarter.

To date, the company has repurchased a total of $247 million of its 12¼% discount notes.

American Tower is a Boston-based communications tower owner and operator.

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