American Tower says nearly all 2.25% convertibles put back

New York, Oct. 23 - American Tower Corp. said holders of almost all its 2.25% convertible notes due 2009 put their securities back to the company.

The Boston communications tower operator said $104.889 million principal amount at maturity of the notes were put back out of the $104.944 million principal amount or $84.2 million accreted value outstanding.

Holders could put their notes back up to 5.00 p.m. ET on Oct. 22.

American Tower paid $802.93 per $1,000 principal amount for the notes, or a total of $84.2 million.

The company said it will use cash on hand from its restricted cash and investments account.

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