American Tower Corp. is prepping $875 million of notes backed by cell tower leases, according to Fitch Ratings.

The offering consists of $175 million of Secured Revenue Notes Series 2015-1 with an anticipated repayment date of June 2020 and 2015-2 and $700 million of Secured Revenue Notes Series 2015-2 with anticipated repayment date of June 2025. Both series of notes are rated ‘AAA’ by Fitch.

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