Crown Castle Announces Pricing of Senior Notes Offering
April 26 2017 - 4:15PM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 4.750% Senior Notes due 2047 in an aggregate principal
amount of $350 million. The notes will have an interest rate
of 4.750% per annum and will be issued at a price equal to 99.207%
of their face value to yield 4.800%.
The net proceeds from the offering are expected
to be approximately $341 million, after deducting the underwriting
discount and other offering expenses payable by Crown Castle.
Crown Castle intends to use the net proceeds from this offering for
general corporate purposes, which may include the funding of
acquisitions, including the proposed acquisition of Wilcon Holdings
LLC (“Wilcon Acquisition”), discretionary investments and the
repayment or repurchase of outstanding indebtedness. This
offering is not contingent upon the consummation of the Wilcon
Acquisition.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Credit Agricole CIB, J.P. Morgan, Morgan Stanley and
SunTrust Robinson Humphrey are the joint book-running managers of
the offering.
The offering is being made pursuant to an
effective shelf registration statement filed with
the Securities and Exchange Commission ("SEC"). The
offering will be made only by means of a prospectus supplement and
the accompanying base prospectus, copies of which may be obtained
by contacting any joint book-running manager using the information
provided below. An electronic copy of the prospectus
supplement, together with the accompanying prospectus, is also
available on the SEC's website, www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
CAUTIONARY LANGUAGE REGARDING
FORWARD-LOOKING STATEMENTSThis press release contains
forward-looking statements that are based on Crown Castle
management's current expectations. Such statements include
plans, projections and estimates regarding the proposed offering,
including the net proceeds therefrom and the use of such
proceeds. Such forward-looking statements are subject to
certain risks, uncertainties and assumptions, including prevailing
market conditions and other factors. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those expected. More information about potential risk
factors that could affect Crown Castle and its results is included
in Crown Castle's filings with the SEC. The term "including,"
and any variation thereof, means "including, without
limitation."
ABOUT CROWN CASTLECrown Castle
provides wireless carriers with the infrastructure they need to
keep people connected and businesses running. With
approximately 40,000 towers and 27,500 miles of fiber supporting
small cells, Crown Castle is the nation's largest provider of
shared wireless infrastructure with a significant presence in the
top 100 US markets.
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
Merrill
Lynch, Pierce, Fenner & Smith Incorporated 200 North College
Street, NC1-004-03-43 Charlotte, NC 28255 Attn: Prospectus
Department, Toll-free: 1-800-294-1322, Email:
dg.prospectus_requests@baml.com |
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Credit Agricole Securities
(USA) Inc. 1301 Avenue of the Americas, 17th Floor, New York, NY
10019 Attn: Investment Grade Syndicate Desk Toll Free: 1 866 807
6030 |
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J.P. Morgan
Securities LLC383 Madison Avenue, 3rd Floor New York, NY 10179
Attn: Investment Grade Syndicate Desk Collect: 1-212-834-4533 |
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Morgan Stanley & Co.
LLC 180 Varick Street New York, New York 10014 Attn: Prospectus
Department Toll-free: (866) 718-1649 |
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SunTrust
Robinson Humphrey, Inc. 3333 Peachtree Road NE Atlanta, GA 30326
Attn: Prospectus Department Toll-free: (800) 685-4786 |
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Contacts: Dan
Schlanger, CFO |
Son Nguyen, VP &
Treasurer |
Crown Castle
International Corp. |
713-570-3050 |
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