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American Tower nets $1.23B in debt offering

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American Tower nets $1.23B in debt offering

American Tower Corp. closed on its two-tranche senior unsecured notes offering March 15, raising approximately $1.23 billion in total net proceeds.

The public offering comprised $650.0 million of 3.375% notes due May 15, 2024, and $600.0 million of 3.950% notes due March 15, 2029.

The communications real estate investment trust plans to use approximately $526.0 million of the net proceeds to repay existing debt under its senior unsecured revolving credit facility secured in June 2013 and approximately $705.0 million to repay existing debt under its senior unsecured revolver entered into in January 2012.

U.S. Bank NA was the trustee.