Crown Castle Announces Pricing of Senior Notes Offering
January 09 2018 - 5:33PM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 3.150% Senior Notes due 2023 and 3.800% Senior Notes
due 2028, in aggregate principal amounts of $750 million and $1.0
billion, respectively. The Senior Notes due 2023 will have an
interest rate of 3.150% per annum and will be issued at a price
equal to 99.630% of their face value to yield 3.224%. The Senior
Notes due 2028 will have an interest rate of 3.800% per annum and
will be issued at a price equal to 99.615% of their face value to
yield 3.846%.
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 to repay
in full the Senior Secured Tower Revenue Notes, Series 2010-3,
Class C-2020 issued by certain of Crown Castle’s subsidiaries and a
portion of the outstanding borrowings under its existing revolving
credit facility.
Citigroup, Credit Agricole CIB, RBC Capital
Markets, SOCIETE GENERALE and TD Securities 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 STATEMENTS
This 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 CASTLE
Crown Castle owns, operates and leases more than
40,000 cell towers and approximately 60,000 route miles of fiber
supporting small cells and fiber solutions across every major US
market. This nationwide portfolio of communications infrastructure
connects cities and communities to essential data, technology and
wireless service – bringing information, ideas and innovations to
the people and businesses that need them.
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
Citigroup
Global Markets Inc.1155 Long Island AvenueEdgewood, NY 11717Attn:
Broadridge Financial SolutionsToll-free: (800) 831-9146Email:
prospectus@citi.com |
Credit
Agricole Securities (USA) Inc. 1301 Avenue of the Americas New
York, NY 10019 Attn: Fixed Income Syndicate Toll-free: (866)
807-6030 |
|
|
RBC Capital
Markets, LLC200 Vesey Street, 8th Floor New York, NY
10281Toll-free: (866) 375-6829 |
SG Americas
Securities, LLC245 Park Avenue, New York, NY 10167Attn: High Grade
Syndicate DeskToll-free: (855) 881-2108Email:
us-glfi-syn-cap@socgen.com |
TD
Securities (USA) LLC 31 W. 52nd Street, 2nd Floor New York, NY
10019 Attn: Debt Capital Markets Toll-free: (855) 495-9846 |
|
CONTACTSDan Schlanger, CFOBen Lowe, VP Corporate FinanceCrown
Castle International Corp.713-570-3050
Crown Castle (NYSE:CCI)
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