Crown Castle Announces Pricing of Senior Notes Offering
March 02 2022 - 4:45PM
Crown Castle International Corp. (NYSE: CCI) (“Crown Castle”)
announced today that it has priced its previously announced public
offering of 2.900% Senior Notes due 2027 in aggregate principal
amount of $750 million. The Senior Notes due 2027 will have an
interest rate of 2.900% per annum and will be issued at a price
equal to 99.758% of their face value to yield 2.952%.
The net proceeds from the offering are expected
to be approximately $741 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 a portion of the outstanding indebtedness under
its commercial paper program and pay related fees and expenses.
Amounts repaid under such program may be reborrowed in connection
with redeeming or repaying other outstanding indebtedness in the
near term.
BofA Securities, Inc., Deutsche Bank Securities
Inc., Mizuho Securities USA LLC, SMBC Nikko Securities America,
Inc. and TD Securities (USA) LLC 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 more than 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.
CONTACTSDan Schlanger, CFOBen Lowe, SVP &
TreasurerCrown Castle International Corp.713-570-3050
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
BofA Securities, Inc.
NC1-004-03-43200 North College Street, 3rd FloorCharlotte, North
Carolina 28255Attn: Prospectus Department Email:
dg.prospectus_requests@bofa.comDeutsche Bank Securities Inc.1
Columbus Circle, 19th FloorNew York, New York 10019Attn: General
CounselToll Free: 1-800-503-4611Mizuho Securities USA LLC1271
Avenue of the AmericasNew York, New York 10020Toll Free:
1-866-271-7403SMBC Nikko Securities America, Inc.277 Park Avenue
New York, New York 10172Attn: Debt Capital MarketsToll Free:
1-888-868-6856E-mail: prospectus@smbcnikko-si.comTD Securities
(USA) LLC1 Vanderbilt Avenue, 12th Floor New York, New York
10017Toll Free: 1-855-495-9846 |
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