Crown Castle International Receives $275 Million From Debt Offerings

August 3, 1999 at 12:00 AM EDT
AUGUST 3, 1999 – HOUSTON, TEXAS – Crown Castle International Corp. (NASDAQ:TWRS) announced today that the Company has closed on two notes offerings and has received combined gross proceeds of approximately $275 million. The notes offerings included gross proceeds of $125 million of 9.5% Senior Notes due 2011 and approximately $150 million of 11.25% Senior Discount Notes due 2011. The securities were offered by joint book-running underwriters Goldman, Sachs & Co. and Salomon Smith Barney. The net proceeds will be used to finance the recently announced BellSouth DCS transaction and for working capital and general corporate purposes.

These offerings have not been registered under the Securities Act of 1933 or any state securities laws and, unless so registered, may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933 and applicable state securities laws. A copy of the prospectus may be obtained from Goldman Sachs or Salomon Smith Barney.

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