Shearman & Sterling represented the underwriters in connection with American Tower Corporation’s offering of $1.4 billion aggregate principal amount of senior notes, consisting of $700 million of 3% senior notes due June 15, 2023 and $700 million of 3.6% senior notes due January 15, 2028.
BofA Merrill Lynch, Citigroup, J.P. Morgan, Morgan Stanley and Scotiabank acted as joint lead book-running managers in connection with the offering.
American Tower Corporation is a leading independent owner, operator and developer of wireless and broadcast communications real estate with a portfolio of over 149,000 communications sites, including wireless and broadcast towers located in the United States, Argentina, Brazil, Chile, Colombia, Costa Rica, France, Germany, Ghana, India, Mexico, Nigeria, Paraguay, Peru, South Africa and Uganda. American Tower Corporation plans to use the proceeds to repay existing indebtedness.
The Shearman & Sterling team included partner Kyungwon Lee (New York-Capital Markets) and associates Robert D. Giannattasio (New York-Capital Markets) and Anusha Pamula (New York-Corporate). Other Shearman & Sterling lawyers involved in the transaction were partner Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory); counsel Jason Pratt (New York-Environmental); and associate Adam Sternberg (New York-Tax).