Crown Castle Announces Pricing of Senior Notes Offering
02 August 2019 - 6:15AM
Crown Castle International Corp. (NYSE: CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 3.100% Senior Notes due 2029 and 4.000% Senior Notes
due 2049, in aggregate principal amounts of $550 million and $350
million, respectively. The Senior Notes due 2029 will have an
interest rate of 3.100% per annum and will be issued at a price
equal to 99.811% of their face value to yield 3.122%. The Senior
Notes due 2049 will have an interest rate of 4.000% per annum and
will be issued at a price equal to 99.657% of their face value to
yield 4.020%.
The net proceeds from the offering are expected
to be approximately $887 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 indebtedness under its existing
revolving credit facility and commercial paper program.
Citigroup, Credit Agricole CIB, Deutsche Bank
Securities, RBC Capital Markets and SunTrust Robinson Humphrey 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 75,000 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
Citigroup Global Markets Inc.c/o
Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY
11717Telephone: (800) 831-9146E-mail: prospectus@citi.com
|
Credit Agricole Securities (USA)
Inc.1301 Avenue of the AmericasNew York, NY 10019Attn: Fixed Income
SyndicateTelephone: (866) 807-6030 |
Deutsche Bank Securities Inc.60
Wall StreetNew York, NY 10005Attn: Prospectus GroupTelephone: (800)
503-4611E-mail: prospectus.CPDG@db.com |
RBC Capital Markets, LLC200 Vesey
Street, 8th FloorNew York, NY 10281Attn: Transaction
ManagementTelephone: (866) 375-6829Facsimile: (212)
658-6137E-mail: rbcnyfixedincomeprospectus@rbccm.com |
SunTrust Robinson Humphrey, Inc.
303 Peachtree Street Atlanta, GA 30308Attn: Prospectus Department
Telephone: (800) 685-4786E-mail: STRHdocs@SunTrust.com |
|
CONTACTSDan Schlanger, CFOBen Lowe, VP & TreasurerCrown
Castle International Corp.713-570-3050
Crown Castle (NYSE:CCI)
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