American Tower Corporation Prices Securitized Notes Offering
May 20 2015 - 07:05PM
Business Wire
American Tower Corporation (NYSE: AMT) today announced that its
subsidiary, GTP Acquisition Partners I, LLC (GTP Acquisition
Partners), priced, in a private transaction, $350 million aggregate
principal amount of American Tower Secured Revenue Notes, Series
2015-1 and $525 million aggregate principal amount of American
Tower Secured Revenue Notes, Series 2015-2 (collectively, the
Notes). The Notes will be secured primarily by 3,621 communications
sites owned by subsidiaries of GTP Acquisition Partners.
The Series 2015-1 notes have an interest rate of 2.350%, an
anticipated repayment date of June 15, 2020 and a final repayment
date of June 15, 2045. The Series 2015-2 notes have an interest
rate of 3.482%, an anticipated repayment date of June 16, 2025 and
a final repayment date of June 15, 2050. The Notes are expected to
be rated Aaa(sf)/AAA(sf). The Notes will have an effective weighted
average fixed interest rate of 3.029% and a weighted average life
through the anticipated repayment dates of approximately eight
years.
GTP Acquisition Partners intends to use the net proceeds of this
offering, together with cash on hand, to repay all amounts
outstanding under its Series 2011-1, Series 2011-2 and Series
2013-1 securitized notes, and to pay any related prepayment
consideration, transaction fees and expenses.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy any of the Notes, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale is unlawful.
The Notes subject to the proposed offering have not been registered
under the Securities Act of 1933, as amended (the Securities Act)
or any state securities laws, and are being offered only to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act, to persons that qualify as accredited investors
within the meaning of Regulation D under the Securities Act and to
non-U.S. persons in offshore transactions in reliance on Regulation
S under the Securities Act. Unless so registered, the Notes may not
be offered or sold in the United States or to U.S. persons except
pursuant to an exemption from the registration requirements of the
Securities Act and applicable state securities laws.
About American Tower
American Tower, one of the largest global REITs, is a leading
independent owner, operator and developer of multitenant
communications real estate with a portfolio of over 91,000
communications sites.
Cautionary Language Regarding Forward-Looking
Statements
This press release contains statements about future events and
expectations, or “forward-looking statements,” all of which are
inherently uncertain. American Tower has based those
forward-looking statements on management’s current expectations and
assumptions and not on historical facts. Examples of these
statements include, but are not limited to, statements regarding
American Tower’s ability to complete the offering and American
Tower’s expectations for the use of proceeds from the offering.
These forward-looking statements involve a number of risks and
uncertainties. Among the important factors that could cause actual
results to differ materially from those indicated in such
forward-looking statements include market conditions for corporate
debt generally, for the securities of telecommunications companies
and for American Tower’s indebtedness in particular. For other
important factors that may cause actual results to differ
materially from those indicated in American Tower’s forward-looking
statements, we refer you to the information contained in the
prospectus supplement for this offering and Item 1A of the
Form 10-K for the year ended December 31, 2014 under the caption
“Risk Factors” and in other filings American Tower makes with the
Securities and Exchange Commission. American Tower undertakes no
obligation to update the information contained in this press
release to reflect subsequently occurring events or
circumstances.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520006702/en/
American Tower CorporationLeah Stearns, 617-375-7500Senior Vice
President, Treasurer and Investor Relations
American Tower (NYSE:AMT)
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