American Tower Corp. (AMT) launches $2 billion common equity offering.

American Tower Corp. (AMT) announced today that that it has commenced an offering of 8,350,000 shares of common stock representing gross proceeds of approximately $2.1 billion.  Proceeds from the offering will be used to repay indebtedness, including amounts under a $3.0 billion 364-day term loan related to the CoreSite acquisition in December 2021. An additional 835,000 shares may be granted to the underwriters to cover over-allotments, if any.

American Tower is an international owner of wireless cell tower properties with a total managed portfolio of approximately 219,000 communication sites and 27 data center properties. As of March 31, 2022, AMT had a total market capitalization of approximately $158 billion.