American Tower Corp. priced $1.8 billion of bonds tied to wireless towers.

In a press release issued Wednesday, the company said it paid a fixed rate of 1.551% on $500 million of five-year notes and a fixed rate of 3.070% on $1.3 billion of 10-year notes. Both tranches were rated ‘Aaa’ by Moody’s Investors Service and ‘AAA’ by Fitch Ratings.

Barclays was the lead manager, according to Fitch’s presale report.

The securities are backed by the debt of two special-purpose subsidiaries that will be secured primarily by mortgages on their interests in 5,195 communications sites.

American Tower intends to use the net proceeds to repay $1.75 billion of bonds issued via the same trust, American Tower Trust I, in 2007. 

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