BOSTON-American Tower Corp. said it plans to make a private placement of $300 million of convertible notes due 2010 with the option granted to the initial purchasers of an additional $50 million principal amount of notes.
The notes will be convertible to class A common stock at the option of the holder at a price to be determined. American Tower expects to complete the private placement this month.
The company also noted that due to prospective timing delays, it intends to withdraw its registration statement related to the offering of $8.5 million shares of class A common stock filed Feb. 3.
