HOUSTON, Oct. 20, 2009 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE:CCI) announced today that it has priced its previously announced public offering of $500 million of its senior notes due 2019. The notes will have an interest rate of 7.125% per annum and will be issued at a price equal to 99.5% of their face value. The notes were offered under Crown Castle's shelf registration statement.
The net proceeds from the offering will be approximately $489 million. Crown Castle expects to use the net proceeds from the offering for general corporate purposes, which may include the repayment or repurchase of certain outstanding indebtedness of its subsidiaries.
The offering is being made solely by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and the accompanying prospectus may be obtained by contacting Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, by email at barclaysprospectus@broadridge.com, or by phone at 888-603-5847. An electronic copy of the prospectus supplement, together with the accompanying prospectus, is also available on the SEC's website, www.sec.gov.
Crown Castle owns, operates, and leases towers and other communication structures for wireless communications. Crown Castle offers significant wireless communications coverage to 91 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 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.
CONTACT: Crown Castle International Corp.Jay Brown, CFO
Fiona McKone, VP - Finance
713-570-3050