HOUSTON, Jan. 30, 2017 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI ) ("Crown Castle") announced today that it has priced its previously announced public offering of 4.000% Senior Notes due 2027 in an aggregate principal amount of $500 million. The notes will have an interest rate of 4.000% per annum and will be issued at a price equal to 99.578% of their face value to yield 4.051%.
The net proceeds from the offering are expected to be approximately $493 million, after deducting the underwriting discount and other offering expenses payable by Crown Castle. Crown Castle intends to use net proceeds from the offering to repay a portion of the outstanding borrowings under Crown Castle’s senior unsecured revolving credit facility.
Barclays, J.P. Morgan, Mizuho Securities, RBC Capital Markets 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 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 provides wireless carriers with the infrastructure they need to keep people connected and businesses running. With approximately 40,000 towers and 26,500 route 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
| Barclays Capital Inc., 1155 Long Island Avenue, Edgewood, NY 11717 Attn: Broadridge Financial Solutions Toll-free: (888) 603-5847 E-mail: barclaysprospectus@broadridge.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 |
| TD Securities (USA) LLC 31 W. 52nd Street, 2nd Floor New York, NY 10019 Attn: Debt Capital Markets Toll-free: (855) 495-9846 | |
| Contacts: | Dan Schlanger, CFO |
| Son Nguyen, VP & Treasurer | |
| Crown Castle International Corp. | |
| 713-570-3050 |
