AT&T and Peppertree Capital Agree to Tower Transaction Valued at up to $680 Million

October 25, 2019, 11:26 AM EDT
Sale-leaseback is part of AT&T’s ongoing monetization initiatives
Business Wire
DALLAS – October 25, 2019

AT&T Inc.* (NYSE: T) has announced that it agreed to a sale-leaseback of its
remaining domestic company-owned wireless towers to Peppertree Capital
Management, Inc. Under the terms of the sale, valued at up to $680 million,
Peppertree will purchase more than 1,000 AT&T towers, and AT&T will lease back
capacity on the towers from Peppertree.

The sale is consistent with AT&T’s plans to monetize non-strategic assets as
it continues to pay down debt. Given the company’s confidence in reaching a
net debt-to-adjusted EBITDA ratio in the 2.5x range by the end of this year,
shareholders should expect that share buybacks will be in the mix in the
fourth quarter of 2019, along with continued de-levering.

The transaction is subject to certain closing conditions, including due
diligence. AT&T expects to close a substantial number of the towers by the end
of the year and the remaining in subsequent closings.

AT&T holds its third-quarter earnings call at 8:30 a.m. ET on Monday, October

Shareholders can listen to a live broadcast via the internet at AT&T

Investor Relations

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15 replies (most recent on top)

Cool now they don’t have to pay maintenance costs. Cause you know maintenance doesn’t have a 200000000% profit.

Selling assets again? Didn't they learn their lessons from the last several times they sold their towers and then we pay an arm and a leg to change our equipment on the towers? They come back and say they make all these great deal with these tower companies but they are c-ap. The only ones that suffer is the markets who have to live with the agreements they negotiate that are so bad.

Third time company has sold towers ~ company already negotiates leases from weakness ~ 3rd party vendors negotiate tower lease agreements & they don’t give a fat rats a– to what is in those agreements. What company and shareholders give control to third party vendors & outsource jobs to over seas cause it is cheaper ~ you get what you pay for sh– quality ~ the in house workers employees of AT&T suffer ~ work overtime & cant keep our heads above water. One day AT&T will be like Block Buster Remember them?

Selling towers is not new. Did it a few years back and then the company got in a pissing match with one of the tower owners. So we couldn’t use their towers moving forward. Like previously stated - id–ts running the farm.

"Non-strategic assets.....Huh?" That was my first thought when I read the article. Weird

True story

https://about.att.com/story/2019/att_peppertree_capital.html

Fake news has to be anL3 or above that don’t know how to search the internet.

Check the “internet” the World Wide Web.

Dear Fake news. Wake up and learn about your company. We sold and leased back space on the majority of our towers several years ago and it has bitten us in the backside. Leave it to poor leadership and desperation to do it again. Very sad to see what’s happening to this company.

WOW, just WOW.

We are selling off, what affords us our bread AND butter ?

Just in time for the shareholder meeting next week.

Upper management only cares about current numbers so they can improve their bonus numbers. They don’t care about the future of this company they are making weaker. In the future with their current idea of getting rid of solid assets they will need to accept leases from tower companies no matter the cost. They will have to negotiate from weakness instead of strength. But they won’t care because they will have their golden parachutes. They just don’t learn from current problems

In other news, AT&T announced the sale and leaseback of its wireline network but was unable to find a s—er to buy it.

Wireless towers aren't strategic for delivering wireless service by a wireless company.

Is this next level genius, or...?

It appears the entrance strategy may not outlive the exit strategy

Non-strategic assets.....Huh?

Thread regarding AT&T layoffs

AT&T and Peppertree Capital Agree to Tower Transaction Valued at up to $680 Million

15 replies (most recent on top)

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