Simpson Thacher Represents Certain Asset Subsidiaries of American Tower Corporation in $875 Million American Tower Secured Revenue Notes Offering by GTP Acquisition Partners I, LLC
06.08.15
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Simpson Thacher represented GTP Acquisition Partners I, LLC (“GTP Acquisition Partners”) and certain other asset entities formerly owned by Global Tower Partners, which American Tower Corporation (“AMT”) acquired in 2013, in the offering of $875 million aggregate principal amount of American Tower Secured Revenue Notes by GTP Acquisition Partners. The Notes were issued in two series, $350 million principal amount of Series 2015-1, Class A Notes having an anticipated maturity of 5 years and $525 million principal amount of Series 2015-2, Class A Notes having an anticipated maturity of 10 years. The proceeds from the offering were primarily used to repay all outstanding amounts under existing notes issued by GTP Acquisition Partners, plus prepayment consideration and other related costs and expenses. Barclays Capital Inc. served as sole structuring advisor and lead bookrunner. The offering closed on May 29, 2015.
AMT is a leading independent owner, operator and developer of multi-tenant communications real estate with a portfolio of over 91,000 communications sites.
The Simpson Thacher team included Laura Palma, Teresa Chen, Angela McCray and Shannon Guy (Capital Markets); Mardi Merjian (Real Estate); John Creed and Taylor Alexander (Tax); Michael Isby (Environmental); Jeanne Annarumma, David Teigman and Holly Gurian (Executive Compensation and Employee Benefits); and Elisha Graf (Bankruptcy).