American Tower in $1.7 Billion Offering

Cleary Gottlieb represented American Tower Corporation (American Tower) in an SEC-registered offering of $500 million aggregate principal amount of 0.6% senior notes due 2024, $650 million aggregate principal amount of 1.5% senior notes due 2028, and $550 million aggregate principal amount of 2.95% senior notes due 2051.

The offering was underwritten by a syndicate of investment banks led by Barclays Capital Inc., Mizuho Securities USA LLC, RBC Capital Markets LLC, SMBC Nikko Securities America Inc., and TD Securities (USA) LLC. The transaction priced on November 17, 2020, and closed on November 20, 2020.

American Tower owns, manages, develops, and leases communication and broadcast tower sites in the United States and around the globe. American Tower began operating as a real estate investment trust (REIT) for federal income tax purposes effective January 1, 2012.