American Tower Corporation Calls for Redemption of Outstanding 9 3/8% Senior Notes.BOSTON -- American Tower Corporation Formed in 1995, American Tower Corporation is a publicly held company (NYSE: AMT) that is a leading owner and operator of wireless and broadcast communications sites in North America. Today American Tower owns and operates over 30,000 sites in the United States, Mexico and Brazil. (NYSE NYSE See: New York Stock Exchange : AMT See vPro. ) announced today the call for redemption of the remaining $66.9 million principal amount outstanding of its 9 3/8% senior notes due 2009. The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. has been set for September 22, 2005. In accordance with the indenture for the senior notes, the notes will be redeemed at a price equal to 104.688% of the principal amount. In addition, the Company will pay accrued and unpaid interest on the redeemed notes up to the redemption date. The Company intends to use available cash on hand and borrowings under its credit facility to fund the redemption. American Tower is the leading independent owner, operator and developer of broadcast and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. sites in North America. American Tower owns and operates over 22,000 sites in the United States, Mexico, and Brazil. Additionally, American Tower manages approximately 2,000 revenue producing rooftop and tower sites. For more information about American Tower, please visit www.americantower.com. |
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