Crown Castle Announces Pricing of Senior Notes Offering
June 15 2021 - 5:03PM
Crown Castle International Corp. (NYSE: CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 2.500% Senior Notes due 2031 in aggregate principal
amount of $750 million. The Senior Notes due 2031 will have an
interest rate of 2.500% per annum and will be issued at a price
equal to 99.743% of their face value to yield 2.529%.
The net proceeds from the offering are expected
to be approximately $739 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 in full the Senior Secured Tower Revenue Notes,
Series 2015-1, Class C-2022, issued by certain of Crown Castle’s
subsidiaries, to repay outstanding indebtedness under its
commercial paper program, and to the extent of any remaining
balance of net proceeds, for general corporate purposes.
BNP PARIBAS, Credit Agricole CIB, J.P. Morgan,
PNC Capital Markets LLC, and Truist 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 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 US
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
BNP Paribas Securities Corp.787
Seventh AvenueNew York, NY 10019Attention: Debt Syndicate
DeskToll-Free: (800) 854-5674 |
Credit Agricole Securities (USA)
Inc.1301 Avenue of the AmericasNew York, NY 10019Attn: Fixed Income
SyndicateToll-Free: (866) 807-6030 |
J.P. Morgan Securities LLC 383
Madison Avenue, 3rd Floor New York, NY 10179 Attn: Investment Grade
Syndicate Desk Collect: (212) 834-4533 |
PNC Capital Markets LLC 300 Fifth
Avenue, 10th Floor Pittsburgh, PA 15222 Attention To: Debt Capital
Markets, Fixed Income Transaction ExecutionToll-Free:
1-855-881-0697 |
Truist Securities, Inc.303
Peachtree StreetAtlanta, GA 30308Attn: Prospectus DeptTelephone:
1-800-685-4786Email: TSIDocs@Truist.com |
|
CONTACTSDan Schlanger, CFOBen Lowe, VP & TreasurerCrown
Castle International Corp.713-570-3050
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