Crown Castle Announces Pricing of Senior Notes Offering
July 25 2017 - 5:10PM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 3.200% Senior Notes due 2024 and 3.650% Senior Notes
due 2027, in aggregate principal amounts of $750 million and $1.0
billion, respectively. The Senior Notes due 2024 will have an
interest rate of 3.200% per annum and will be issued at a price
equal to 99.721% of their face value to yield 3.244%. The Senior
Notes due 2027 will have an interest rate of 3.650% per annum and
will be issued at a price equal to 99.930% of their face value to
yield 3.658%.
The net proceeds from the offering are expected to be
approximately $1.73 billion, after deducting the underwriting
discount and other offering expenses payable by Crown Castle.
Crown Castle intends to use the net proceeds from this offering,
together with the net proceeds from its previously announced common
stock offering and mandatory convertible preferred stock offering
and cash on hand, to finance its previously announced acquisition
of LTS Group Holdings LLC (“Lightower Acquisition”) and to pay
related fees and expenses.
Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Barclays, Mizuho Securities, and RBC Capital Markets
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 60,000 route miles of fiber supporting small
cells following the completion of the Lightower Acquisition, Crown
Castle is the nation's largest provider of shared wireless
infrastructure with a significant presence in the top 100 U.S.
markets.
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
Morgan Stanley & Co. LLC180 Varick Street, 2nd FloorNew
York, NY 10014Attn: Prospectus DepartmentToll-free: (866)
718-1649
Barclays Capital Inc. 1155 Long Island Avenue Edgewood, NY 11717
Attn: Broadridge Financial Solutions Toll-free: (888) 603-5847
E-mail: barclaysprospectus@broadridge.com
RBC Capital Markets, LLC200 Vesey Street, 8th Floor New York, NY
10281Toll-free: (866) 375-6829
Merrill Lynch, Pierce, Fenner & Smith
IncorporatedNC1-004-03-43200 North College Street, 3rd
floorCharlotte, NC 28255-0001Attn: Prospectus
DepartmentEmail: dg.prospectus_requests@baml.com
Mizuho Securities USA LLC320 Park Avenue New York, NY 10022Attn:
Debt Capital MarketsToll-free: (866) 271-7403
Contacts:Dan Schlanger, CFO Son Nguyen, VP & Treasurer Crown
Castle International Corp. 713-570-3050
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