BOSTON-American Tower Corp. will sell $300 million principal amount of its 7.125-percent senior notes due October 15, 2012, through an institutional private placement, as previously announced.American Tower said net proceeds, expected to be approximately $292.8 million, will be used to repurchase or redeem a...
BOSTON-American Tower Corp. announced it is seeking to raise $250 million through a private placement of senior notes.The company plans to use all net proceeds to redeem a portion of its 9.375-percent senior notes due 2009.Analysts from Raymond James & Associates Inc. said the...
As expected, Crown Castle International Corp. completed the sale of its U.K. subsidiary, including 3,600 tower sites, to British utility company National Grid Transco plc for $2.035 billion in cash. Upon completion, Crown used $1.3 billion of the proceeds from the transaction to fully...
As expected, Crown Castle International Corp. today completed the sale of its U.K. subsidiary, including 3,600 tower sites, to British utility company National Grid Transco plc for $2.035 billion in cash. Upon completion, Crown used $1.3 billion of the proceeds from the transaction to...
BOSTON-American Tower Corp. has closed its previously announced sale of 3-percent convertible notes due 2012. The sale will result in net proceeds of approximately $335.9 million, which the company plans to use to refinance a portion of its outstanding 9.375-percent senior notes due 2009.American...
BOSTON-American Tower Corp. said it will sell $300 million in aggregate principal amount of its 3-percent convertible notes due Aug. 15, 2012, through an institutional private placement. The initial purchaser also has a 30-day option to purchase up to an additional $45 million aggregate...
In releasing its second-quarter financial results, American Tower Corp., the largest U.S. wireless tower company, maintained good favor with analysts who indicated its overall efforts to reduce its risk profile by streamlining debt and being selective about adding assets to its portfolio will add...
Change has been afoot in the wireless tower industry. In the past 18 months, two of the industry's five public players have gone through bankruptcy and returned, businesses have been divested and restructured, and stock valuations have fallen and risen like the tides. Meanwhile,...
Four of the five publicly traded wireless communications tower firms reinforced notions that this year would be a better one for the sector in their second-quarter 2004 financial results, released last week.In addition to its improved second-quarter results, SpectraSite Inc. announced the search is...
Sprint Corp.'s often-rumored plans to sell its significant tower holdings could be getting closer to a reality as the company reported during its second-quarter conference call that it was exploring strategic initiatives for its approximately 6,300 cellular towers. Analysts estimate the towers could be...
Sprint Corp.'s often rumored plans to sell off its significant tower holdings could be getting closer to a reality as the company reported during its second-quarter conference call that it is exploring strategic initiatives for its approximately 6,300 cellular towers that analysts noted could...
Crown Castle International Corp. last week confirmed it is selling its U.K. business, including 3,600 tower sites, to British utility company National Grid Transco plc for $2.035 billion cash."The price fully values the U.K. business plan," said Ben Moreland, Crown's chief financial officer. "We...
AeroSolutions L.L.C. has found its niche in the oft-neglected wireless tower infrastructure industry. The company said it is being discovered by bigger players that increasingly rely on its expertise to forge their own successes in the wireless business.Steel tower structures physically deteriorate in the...
Wireless tower owner Global Signal Inc., formerly known as Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading...
Wireless tower owner Global Signal Inc., formerly Pinnacle Holdings, has returned to the public market with an initial public offering of 7 million shares of common stock priced at $18 per share. Shares of Global Signal, under the symbol GSL, began trading today, and...
BOSTON-American Tower Corp. announced its operating subsidiaries have refinanced their previous credit facility with a new $1.1 billion senior secured credit facility. The new credit facility consists of a $400 million revolving credit facility, a $300 million term A loan and a $400 million...
Despite increased revenues, tower companies Crown Castle International Corp. and SBA Communications Corp. reported first-quarter financials in the red, although Crown managed to shave its losses.Crown reported site rental and broadcast transmission revenue of $219.4 million, up 18.6 percent, or $34.4 million, from last...
WORCESTER, Mass.-Optasite Inc., a wireless services firm that provides acquisition, cell site construction, testing and maintenance services, said it has received $10 million in financing.The company plans to use the new capital to develop and acquire wireless tower assets, initially in the Northeast and...
American Tower Corp. early Tuesday reported first-quarter financial results in line with analyst expectations.The company said total revenues were $186.2 million, up 15 percent from the first quarter of 2003. Income from operations increased to $21.8 million from $2.1 million last year. Net loss...
SpectraSite Inc. kicked off wireless tower company first-quarter earning releases this week on a positive note.The company said revenues for the first quarter were $84.6 million and operating income was $21.4 million. Net income, after expenses, was $7.1 million, or 15 cents per share,...
BOCA RATON, Fla.-SBA Communications Corp. announced it has hired a new chief financial officer. In addition to heading up financial aspects of SBA, Anthony Macaione, 40, will also serve as senior vice president. Macaione, a certified public accountant, joins from Perry Ellis International Inc.,...
HOUSTON-Crown Castle International Corp. put wireless communications tower stock traders in a frenzy this week when it offered up a concrete sign of hope for the sector by raising its earnings expectations for the full year.Crown said it now expects site rental and broadcast...
Crown Castle International Corp. put wireless communications tower stock traders in a frenzy this week when it offered up a concrete sign of hope for the sector by raising its earnings expectations for the full year.Crown said it now expects site rental and broadcast...
NEW YORK-Lehman Brothers analyst Blake Bath this week initiated coverage of tower companies American Tower Corp., Crown Castle International Corp. and SpectraSite Inc. with various ratings. Bath rated American Tower "overweight" with a $16 price target, Crown was rated "equal-weight" with a $15 price...
