American Tower to offer notes for debt repurchase
Broadcast and communications tower operator American Tower Corp. of Boston said it will offer fixed rate notes in an institutional private placement to finance the repurchase and redemption of other debt.
The notes, which are due 2015, may repurchase 7.125 percent senior notes due 2012. A redemption price would be 101.781 percent and accrued and unpaid interest up to but excluding the redemption date.
Shares declined 33 cents to $37.40 in morning trading.