Crown Castle Announces Proposed Offering of Senior Notes
HOUSTON, Apr 3, 2012 (GlobeNewswire via COMTEX) --Crown Castle International Corp. (NYSE:CCI) announced today that it is commencing a public offering of $1.0 billion of senior notes. The senior notes will be issued by Crown Castle International Corp. and will be offered pursuant to an effective shelf registration filed with the Securities and Exchange Commission. Crown Castle will use the net proceeds from the offering to finance a tender offer for any and all of its outstanding 9% Senior Notes due 2015, and to redeem any of the 9% Senior Notes that remain outstanding after the expiration of the tender offer, subject to the applicable make-whole premium. Crown Castle will use any remaining net proceeds for general corporate purposes, which may include the repayment or repurchase of certain other outstanding indebtedness.
The offering is being made solely by means of a prospectus supplement and accompanying prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by email at prospectus@morganstanley.com, or by phone at (917) 606-8487. 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 does 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 jurisdiction.
Crown Castle owns, operates, and leases towers and other infrastructure for wireless communications. Crown Castle offers significant wireless communications coverage to 92 of the top 100 U.S. markets and to substantially all of the Australian population. Crown Castle owns, operates and manages over 22,000 and approximately 1,600 wireless communication sites in the U.S. and Australia, respectively. For more information on Crown Castle, please visit http://www.crowncastle.com.
The Crown Castle International Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3063
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 use of proceeds from 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 Securities and Exchange Commission. The term "including," and any variation thereof, means "including, without limitation."
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SOURCE: Crown Castle International Corp.
CONTACT: Jay Brown, CFO Fiona McKone, VP - Finance Crown Castle International Corp. 713-570-3050