ATN International to Sell U.S. Tower Portfolio for $297 Million

The transaction involves ATN subsidiaries, including Commnet Wireless, offloading a significant portion of their infrastructure footprint. According to the company, the deal is structured in phases, with an initial closing expected in the second quarter of this year. This first stage is projected to generate between $250 million and $270 million in gross proceeds, followed by subsequent closings totaling up to $47 million over the following 12 months.

Strategic Use of Proceeds

ATN plans to utilize the cash influx to strengthen its financial position and support its long-term roadmap. The company detailed three primary objectives for the capital:

• Repaying approximately $70 million in borrowings under its revolving credit facility with CoBank.
• Funding ongoing operational investments.
• Advancing new growth opportunities within its digital infrastructure portfolio.

The company noted that taxes, minority interest payments, and transaction expenses will likely consume 25% to 30% of the gross proceeds. While the sale provides a significant liquidity boost, it will impact the company’s ongoing financials. ATN estimates that the divestiture will reduce its U.S. telecom segment revenue by approximately $5 million to $7 million annually once the transition is fully complete.