Crown Castle Announces Pricing of Senior Notes Offering
June 04 2020 - 6:21PM
Crown Castle International Corp. (NYSE: CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 1.350% Senior Notes due 2025, 2.250% Senior Notes due
2031 and 3.250% Senior Notes due 2051 in aggregate principal
amounts of $500 million, $1.1 billion and $900 million,
respectively. The Senior Notes due 2025 will have an interest rate
of 1.350% per annum and will be issued at a price equal to 99.736%
of their face value to yield 1.404%. The Senior Notes due 2031 will
have an interest rate of 2.250% per annum and will be issued at a
price equal to 99.830% of their face value to yield 2.268%. The
Senior Notes due 2051 will have an interest rate of 3.250% per
annum and will be issued at a price equal to 99.786% of their face
value to yield 3.261%.
The net proceeds from the offering are expected
to be approximately $2.473 billion, 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, together with available cash, to redeem or
repurchase all of its outstanding 3.400% Senior Notes due 2021,
2.250% Senior Notes due 2021 and 4.875% Senior Notes due 2022.J.P.
Morgan, Mizuho, SOCIETE GENERALE, SMBC Nikko, 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 a
notice of redemption under the optional redemption provisions of
the indenture (and applicable supplements thereto) governing Crown
Castle’s outstanding 3.400% Senior Notes due 2021, 2.250% Senior
Notes due 2021 and 4.875% Senior Notes due 2022. 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 80,000 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.
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
J.P. Morgan Securities LLC 383
Madison Avenue, 3rd Floor New York, NY 10179 Attn: Investment Grade
Syndicate Desk Collect: (212) 834-4533 |
Mizuho Securities USA LLC1271
Avenue of the Americas, 3rd FloorNew York, NY 10020Attn: Investment
Grade Syndicate DeskToll-free: (866) 271-7403 |
|
|
SG Americas Securities, LLC245
Park AvenueNew York, NY 10167Attn: High Grade Syndicate
DeskToll-free: (800) 861-9789 |
SMBC Nikko Securities America,
Inc.277 Park AvenueNew York, NY 10172Attn: Debt Capital Markets
Toll Free: (888) 868-6856Email: prospectus@smbcnikko-si.com |
|
|
TD Securities (USA) LLC 31 West
52nd Street, 2nd Floor New York, NY 10019 Attn: Transaction
Management Group Toll-free: (855) 495-9846Email:
ustmg@tdsecurities.com |
|
|
|
CONTACTSDan Schlanger, CFOBen
Lowe, VP & TreasurerCrown Castle International
Corp.713-570-3050 |
|
Crown Castle (NYSE:CCI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Crown Castle (NYSE:CCI)
Historical Stock Chart
From Apr 2023 to Apr 2024