American Tower calls remaining 12¼% discount notes

By Angela McDaniels

Seattle, Dec. 22 - American Tower Corp. said it will redeem on Feb. 1 all the outstanding 12¼% senior subordinated discount notes issued by its American Towers Inc. subsidiary.

The notes will be redeemed at 106.125% of their accreted value on the redemption date, which will be $742.87 per $1,000 principal amount. Accordingly, the company will pay $788.37 per note.

The company said it will use borrowings under its credit facility to cover the $179.5 million redemption cost.

American Tower is based in Boston and owns, operates and develops broadcast and wireless communications sites.

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