Crown Castle Announces Pricing of Senior Notes Offering
January 29 2019 - 4:47PM
Crown Castle International Corp. (NYSE: CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 4.300% Senior Notes due 2029 and 5.200% Senior Notes
due 2049, in aggregate principal amounts of $600 million and $400
million, respectively. The Senior Notes due 2029 will have an
interest rate of 4.300% per annum and will be issued at a price
equal to 99.461% of their face value to yield 4.367%. The Senior
Notes due 2049 will have an interest rate of 5.200% per annum and
will be issued at a price equal to 99.894% of their face value to
yield 5.207%.
The net proceeds from the offering are expected
to be approximately $985 million, after deducting the underwriting
discount and other estimated offering expenses payable by Crown
Castle. Crown Castle intends to use the net proceeds from this
offering to repay outstanding borrowings under its existing
revolving credit facility.
Barclays, J.P. Morgan, Merrill Lynch, Pierce,
Fenner & Smith Incorporated, MUFG and TD Securities are the
joint book-running managers of the offering.
The offering is being made pursuant to the
existing 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 preliminary 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 65,000 route miles of fiber
supporting small cells and fiber solutions across every major U.S.
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.
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JOINT
BOOK-RUNNING MANAGERS CONTACT INFORMATION |
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Merrill Lynch, Pierce,
Fenner & Smith Incorporated, NC1-004-03-43 200 North College
Street, 3rd floor Charlotte NC 28255-0001 Attn: Prospectus
Department Email: dg.prospectus_requests@baml.com |
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Barclays Capital Inc.
c/o Broadridge Financial Solutions 1155 Long Island Avenue
Edgewood, NY 11717 Toll-free: (888) 603-5847 Email:
barclaysprospectus@broadridge.com |
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J.P. Morgan Securities
LLC 383 Madison Avenue, 3rd Floor New York, NY 10179 Attn:
Investment Grade Syndicate Desk Toll-free: 1-212-834-4533 |
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MUFG Securities
Americas Inc. 1221 Avenue of the Americas, 6th Floor New York, NY
10020 Attn: Capital Markets Group Toll-free: 1-877-649-6848 |
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TD Securities (USA) LLC
31 West 52nd Street, 2nd Floor New York, NY 10019 Attn: Debt
Capital Markets Syndicate Desk Toll-free: (855) 495-9846 |
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CONTACTSDan Schlanger, CFOBen Lowe, VP &
TreasurerCrown Castle International Corp.713-570-3050
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