American Tower in €2 Billion and $2.2 Billion Offerings
May 21, 2021
Cleary Gottlieb represented American Tower in an SEC-registered offering of €750 million aggregate principal amount of 0.45% senior notes due 2027, €750 million aggregate principal amount of 0.875% senior notes due 2029, and €500 million aggregate principal amount of 1.25% senior notes due 2033.
The notes are listed on the New York Stock Exchange. The offering was underwritten by a syndicate of investment banks led by Merrill Lynch International, J.P. Morgan Securities plc, Mizuho International plc, Morgan Stanley & Co. International plc, and The Toronto-Dominion Bank. The transaction priced on May 18, 2021, and closed on May 21, 2021.
Cleary also represented American Tower in an SEC-registered offering of 9.9 million shares of common stock. The offering was underwritten by a syndicate of investment banks led by BofA Securities Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and RBC Capital Markets LLC. The transaction priced on May 5, 2021, and closed on May 10, 2021. The underwriters exercised their over-allotment option to purchase an additional 900,000 shares of common stock in full on May 5, 2021.
American Tower owns, manages, develops, and leases communication and broadcast tower sites in the United States and around the globe. American Tower began operating as a real estate investment trust (REIT) for federal income tax purposes effective January 1, 2012.