ATN International to Pursue Growth and Margin Expansion Following $268M Tower Sale
ATN International (NASDAQ:ATNI) has completed the initial closing of its U.S. tower portfolio sale, generating $268 million in cash proceeds. The company used $68 million from the transaction to repay debt, improving liquidity and reducing leverage to 0.91x with $240 million in undrawn capacity remaining. Second-quarter results showed strong performance, including a nearly 2% revenue increase year-over-year and an almost 9% rise in adjusted EBITDA, alongside margin expansion of 170 basis points. Management anticipates further improvements through cost reductions, operational efficiencies, and residential customer growth. ATN is also pursuing fiber expansion internationally and government-backed U.S. broadband projects worth over $350 million. The company announced a planned $41 million spectrum sale expected to close next year and increased its share repurchase authorization from $15 million to $30 million, signaling confidence in capital allocation strategies.
Tickers: $ATNI
Topics: capital allocation debt management growth strategy telecom