[boston business journals] American Tower Corp., a developer of wireless-telecommunications infrastructure, said it expects to net $594.7 million in a senior, unsecured debt offering.
The Boston-based company said it will use the proceeds to retire senior notes coming due in 2012 and to fund general corporate operations.
The new notes will have an interest rate of 4.625 percent and are being offered at a price equal to 99.864 percent of their face value, the company said in a regulatory filing Wednesday.
With roughly $392 million in cash and cash equivalents on hand as of June 30, American Tower booked $823 million in revenue and $114.9 million in net income during the six months ended June 30.
American Tower preps $600M debt offering