Crown Castle Announces Pricing of Senior Notes Offering
January 28 2016 - 6:23PM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of senior notes due 2021 and 2026, in aggregate principal
amounts of $600 million and $900 million, respectively. The 2021
notes will have an interest rate of 3.400% per annum and will be
issued at a price equal to 99.977% of their face value. The 2026
notes will have an interest rate of 4.450% per annum and will be
issued at a price equal to 99.671% of their face value.
The net proceeds from the offering are expected
to be approximately $1,486.9 million, after deducting underwriting
discounts and commissions and other offering expenses payable by
Crown Castle. Crown Castle expects to use net proceeds from the
offering, together with cash on hand, to repay in full all
outstanding borrowings under its $1.0 billion Senior Unsecured
364-Day Revolving Credit Facility (and, in connection therewith,
will terminate all commitments thereunder), and to repay $500
million of outstanding borrowings under its $2.5 billion Senior
Unsecured Revolving Credit Facility.
Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Citigroup, J.P. Morgan, 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 amount and use of proceeds
from and timing of the proposed offering. 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 17,000 small cell nodes supported by
approximately 16,000 miles of fiber, Crown Castle is the nation's
largest provider of shared wireless infrastructure with a
significant presence in the top 100 US markets.
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
Merrill Lynch, Pierce, Fenner & Smith
Incorporated,222 Broadway, 11th Floor, New York, NY 10038,Attn:
Prospectus Department,Toll-free: 1-800-294-1322,Email:
dg.prospectus_requests@baml.com. |
Citigroup Global Markets Inc.,1155 Long Island
Avenue, Edgewood, NY 11717,Attn: Broadridge Financial
Solutions,Toll-free: 1-800-831-9146,Email:
prospectus@citi.com. |
|
|
J.P. Morgan Securities LLC,383 Madison Avenue,
3rd Floor, New York, NY 10179,Attn: Investment Grade Syndicate
Desk,Collect: 1-212-834-4533. |
Mizuho Securities USA Inc.,320 Park Avenue, New
York, NY 10022,Attn: Debt Capital Markets,Toll-free:
1-866-271-7403. |
|
RBC Capital Markets LLC,200 Vesey
Street, 8th Floor, New York, NY 10281,Toll-free:
1-866-375-6829. |
Contacts: Jay Brown, CFOSon Nguyen, VP - Corporate FinanceCrown Castle International Corp.713-570-3050
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