ATN Completes Initial $268M Tower Sale; Updates 2026 EBITDA Outlook
ATN International, Inc. announced that its subsidiary, Commnet Wireless, completed the initial closing of the sale of Southwestern U.S. towers and related operations to EIP Holdings IV, LLC for $268 million in cash. This transaction significantly enhances ATN's liquidity and financial flexibility, with net proceeds broadly the size of its annual Adjusted EBITDA. The company plans to use $68 million of the initial proceeds to repay outstanding borrowings. While subsequent closings could bring an additional $30 million, the initial closing is expected to reduce ATN's remaining 2026 consolidated revenues by $3 million, operating income by $4 million, and Adjusted EBITDA by $7 million, leading to a revised full-year Adjusted EBITDA outlook of $183 million to $193 million.
Key Highlights
- ATN's subsidiary, Commnet Wireless, completed the initial closing of the sale of Southwestern U.S. towers for $268 million in cash.
- Subsequent closings are expected to generate up to an additional $30 million over the next twelve months.
- The company will allocate $68 million of the initial proceeds to repay borrowings under its CoBank credit facility.
- The initial closing is expected to reduce remaining 2026 consolidated revenues by $3 million.
- Operating income for the remaining seven months of 2026 is expected to decrease by $4 million.
- Adjusted EBITDA for the remaining seven months of 2026 is expected to decrease by $7 million.
- The 2026 full-year Adjusted EBITDA outlook is revised to $183 million to $193 million from $190 million to $200 million.
Price Impact
More from ATNI