American Tower to use proceeds to pay down credit facilities

By Mary-Katherine Stinson

Lexington, Ky., May 22 – American Tower Corp. will use proceeds from a planned dual-tranche offering of senior notes due 2028 and 2033 to repay debt under two of the company’s credit facilities, according to a 424B5 filing with the Securities and Exchange Commission.

The company’s 2021 multicurrency credit facility maturing June 30, 2025 and the 2021 credit facility maturing Jan. 31, 2027 both bear interest at 112.5 basis points over Libor.

American Tower is a real estate investment trust and owner, operator and developer of multitenant communications real estate based in Boston.

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