Crown Castle Announces Pricing of Senior Notes Offering
April 28 2016 - 11:46AM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 3.400% Senior Notes due 2021 and 3.700% Senior Notes
due 2026, in aggregate principal amounts of $250 million and $750
million, respectively. The Senior Notes due 2021 will have an
interest rate of 3.400% per annum and will be issued at a price
equal to 102.637% of their face value to yield 2.796%. The
Senior Notes due 2026 will have an interest rate of 3.700% per
annum and will be issued at a price equal to 99.695% of their face
value to yield 3.736%.
The net proceeds from the offering are expected
to be approximately $1.0 billion, after deducting underwriting
discounts and commissions and other offering expenses payable by
Crown Castle. Crown Castle intends to use net proceeds from
the offering to repay in full the Senior Secured Tower Revenue
Notes, Series 2010-2, Class C-2017 and Series 2010-5, Class C-2017,
each issued by certain of its subsidiaries, and to repay a portion
of the outstanding borrowings under the senior unsecured revolving
credit facility.
Barclays, Credit Agricole CIB, Morgan Stanley,
SunTrust Robinson Humphrey 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 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 proposed offering,
including the use of proceeds therefrom. 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 16,500 miles of fiber supporting
small cells, 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
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Barclays Capital Inc., 1155 Long Island Avenue,
Edgewood, NY 11717 Attn: Broadridge Financial Solutions Toll-free:
(888) 603-5847 E-mail: barclaysprospectus@broadridge.com |
Credit
Agricole Securities (USA) Inc. 1301 Avenue of the Americas New
York, NY 10019 Attn: Fixed Income Syndicate Toll-free:
866-807-6030 |
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Morgan Stanley & Co. LLC 180 Varick Street
New York, New York 10014 Attn: Prospectus Department Toll-free:
(866) 718-1649 |
SunTrust
Robinson Humphrey, Inc. 3333 Peachtree Road NE Atlanta, GA 30326
Attn: Prospectus Department Toll-free: (800) 685-4786 |
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TD Securities (USA) LLC 31 W. 52nd
Street, 2nd Floor New York, NY 10019 Attn: Debt Capital Markets
Toll-free: (855) 495-9846 |
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Contacts: Jay Brown, CFOSon Nguyen, VP - Corporate FinanceCrown
Castle International Corp.713-570-3050
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