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American Tower nets $1.38B in debt offering

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American Tower nets $1.38B in debt offering

American Tower Corp. closed its $1.40 billion debt offering, raising total net proceeds of about $1.38 billion.

The public offering, which closed Dec. 8, comprised $700.0 million of 3.000% senior unsecured notes due June 15, 2023, and $700.0 million of 3.600% senior unsecured notes due Jan. 15, 2028.

The company plans to use about $1.04 billion of the net proceeds to repay existing debt under an existing senior unsecured revolving credit facility.