Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

American Tower Raises $1.25 Billion in Two-Part Offering of Debt

Aug. 14 (Bloomberg) -- American Tower Corp. raised $1.25 billion in a two-part bond sale.

The owner and operator of wireless and broadcast communications sites issued $750 million of 3.4 percent 5.5-year debt priced to yield 195 basis points more than Treasuries and $500 million of 5 percent notes due February 2024 at a spread of 230 basis points, according to data compiled by Bloomberg. Proceeds from the securities, expected to be rated Baa3 by Moody’s Investors Service, will be used for debt repayment and general corporate purposes, according to a regulatory filing.

American Tower’s $1 billion of 3.5 percent debentures due 2023 issued in January traded yesterday at 90.7 cents on the dollar to yield 4.74 percent, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Bank of America Corp., Citigroup Inc., Mizuho Financial Group Inc., Morgan Stanley and Toronto-Dominion Bank managed the offering for the Boston-based company, the data show.

To contact the reporter on this story: Sarika Gangar in New York at sgangar@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.