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American Tower launches tender offer for $225 million 7½% notes
By Angela McDaniels
Tacoma, Wash., May 27 - American Tower Corp. has begun a tender offer for any and all of its outstanding $225 million 7½% senior notes due 2012, according to a company news release.
The tender offer will expire at 11:59 p.m. ET on June 23.
The company is offering $1,021.25 per $1,000 principal amount, which includes an early tender premium of $30.00 per $1,000 principal amount of notes tendered by the early tender date of 5 p.m. ET on June 9.
Holders will also receive accrued interest up to but excluding the payment date.
American Tower said it may choose to purchase notes tendered by the early tender date before the offer expiration.
The tender offer is conditioned on the closing of a new debt offering by the company.
The company said it plans to call any notes that remain outstanding after the tender offer at a redemption price of $1,018.75 per $1,000 principal amount.
Credit Suisse Securities (USA) LLC (800 820-1653) is the dealer manager, and D.F. King & Co., Inc. (800 967-7921 or 212-269-5550) is the information agent.
American Tower is a Boston-based communications tower operator.
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