American Tower completes tender for 7½% notes; remainder to be called

By Jennifer Chiou

New York, June 24 - American Tower Corp. said it accepted tenders for a total of $204,184,000, or 90.8%, of notes - $204,141,000 prior to the early deadline - in the offer for its $225 million of 7½% senior notes due 2012.

The tender offer expired at 11:59 p.m. ET on June 23. It began on May 27.

The early tender deadline was 5 p.m. ET on June 9.

The company said it paid about $210.2 million, including $1.7 million of accrued interest.

The company was offering $1,021.25 per $1,000 principal amount, which included an early tender premium of $30.00 per $1,000 principal amount of notes tendered by the early tender date.

The tender offer was conditioned on the closing of a new debt offering by the company.

The company said it will call the remainder of the notes at a redemption price of $1,018.75 per $1,000 principal amount on July 20.

Credit Suisse Securities (USA) LLC (800 820-1653) was the dealer manager, and D.F. King & Co., Inc. (800 967-7921 or 212-269-5550) was the information agent.

American Tower is a Boston-based communications tower operator.

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