American Tower Corporation’s $1.5 Billion Senior Notes Offering


Shearman & Sterling represented the underwriters in connection with American Tower Corporation’s $1.5 billion offering of senior notes. Cleary Gottlieb Steen & Hamilton advised American Tower Corporation.

American Tower Corporation completed a registered public offering of $750.0 million aggregate principal amount of its 2.400% senior unsecured notes due 2025 and $750.0 million aggregate principal amount of its 2.900% senior unsecured notes due 2030, which resulted in aggregate net proceeds to the Company of approximately $1,483.4 million, after deducting commissions and estimated expenses.

American Tower Corporation plans to use the proceeds to repay existing indebtedness under its $2.25 billion senior unsecured revolving credit facility, as amended and restated in December 2019.

BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley and Scotiabank acted as representatives of the underwriters.

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 179,000 communications sites.

The Shearman & Sterling team included Merritt Johnson (Picture), Robert D. Giannattasio, Nneka Chukwumah, Laurence Crouch, Philip Urofsky, Jason Pratt, Alyssa Pont, and also associate Polina Pristupa.

Involved fees earner: Nneka Chukwumah – Shearman & Sterling; Laurence Crouch – Shearman & Sterling; Robert Giannattasio – Shearman & Sterling; Merritt Johnson – Shearman & Sterling; Alyssa Pont – Shearman & Sterling; Jason Pratt – Shearman & Sterling; Philip Urofsky – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Bank of America Securities; Citigroup Inc.; J.P. Morgan Securities LLC; Morgan Stanley; Scotiabank;

Author: Ambrogio Visconti