American Tower to Raise $700M for Acquisitions

Boston-based American Tower, an owner and operator of wireless towers and other communications sites, said today it plans to raise $700 million in a registered public offering of senior unsecured notes due September 2020. The company says the net proceeds of the sale, expected to be about $693.8 million, will be used to finance the recent acquisition of Essar Telecom Infrastructure Private Limited, based in India, as well as “other recent and potential acquisitions.” American Tower (NYSE: AMT) was formed in 1995, and says it currently owns and operates more than 32,000 wireless communications sites in the U.S., Mexico, Brazil, Chile, Peru and India.

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