Crown Castle International Prices Debt Offering
JUNE 22, 2000 - HOUSTON, TEXAS - Crown Castle International Corp. (NASDAQ:TWRS) announced today that it priced $500 million of its 10.75% Senior Notes due 2011. This represents an increase over the proposed $250 million Senior Note offering previously announced. The net proceeds of the offering will be used to repay outstanding term loans incurred in connection with Crown Castle's acquisition of towers from GTE Wireless and for other general corporate purposes. Closing of the offering is scheduled for Monday, June 26, 2000.
A shelf registration statement relating to the notes was previously declared effective by the Securities and Exchange Commission. The offering of the notes may be made only by means of a prospectus supplement. A copy of the prospectus supplement and related base prospectus may be obtained from Goldman Sachs or Chase Securities Inc.
Crown Castle International Corp. 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 International owns, operates and manages over 11,000 wireless communication towers internationally. For more information on Crown Castle International, visit: www.crowncastle.com.
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