American Tower Corporation (NYSE: AMT) Tuesday announced that some of its indirect subsidiaries priced, in a private transaction, $500 million aggregate principal amount of Secured Tower Revenue Securities, Series 2018-1, Subclass A (the “Series 2018-1A Securities”). Upon issuance, the Series 2018-1A Securities will have a principal balance of $500 million, an interest rate of 3.652% and an expected life of approximately 10 years, with a final maturity of March 2048. The company intends to use the net proceeds of this offering to repay borrowings under its revolving credit facilities.
April 2, 2018
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