Crown Castle International to Pursue Debt Offering
JUNE 16, 2000 - HOUSTON, TEXAS - Crown Castle International Corp. (NASDAQ:TWRS) announced today that it intends to promptly commence an offering of $250,000,000 of Senior Notes due 2011. The notes will be issued pursuant to Crown Castles shelf registration statement previously filed with the Securities and Exchange Commission and declared effective in July 1999. The net proceeds of the offering will be used to repay a portion of outstanding term loans incurred in connection with Crown Castles acquisition of towers from GTE Wireless.
Crown Castle engineers, deploys, owns and operates technologically advanced shared wireless infrastructure, including extensive networks of towers and rooftops as well as analog and digital audio and television broadcast transmission systems. The Company offers near-universal broadcast coverage in the United Kingdom and significant wireless communications coverage to 68 of the top 100 United States markets, more than 95 percent of the UK population and more than 92 percent of the Australian population. Pro forma for all closed and previously announced transactions, Crown Castle owns, operates and manages over 11,000 wireless communication towers internationally. For more information on Crown Castle, visit: www.crowncastle.com.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES FOR SALE. A SHELF REGISTRATION STATEMENT RELATING TO THE FOREGOING HAS PREVIOUSLY BEEN FILED AND DECLARED EFFECTIVE. ANY OFFER, IF AT ALL, WILL BE MADE ONLY BY MEANS OF A PROSPECTUS SUPPLEMENT FORMING A PART OF SUCH REGISTRATION STATEMENT.
This press release contains forward-looking statements and information that are based on management's belief as well as assumptions made by and information currently available to management. Although Crown Castle believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential factors, which could affect the company's financial results, is included in the Risk Factors sections of the company's filings with the Securities and Exchange Commission. The company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
W. Benjamin Moreland, CFO
Crown Castle International
713-570-3000
Ken Dennard
Easterly Investor Relations
kdennard@easterly.com
713-529-6600