HOUSTON, Jan. 29, 2019 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) announced today that it has priced its previously announced public offering of 4.300% Senior Notes due 2029 and 5.200% Senior Notes due 2049, in aggregate principal amounts of $600 million and $400 million, respectively. The Senior Notes due 2029 will have an interest rate of 4.300% per annum and will be issued at a price equal to 99.461% of their face value to yield 4.367%. The Senior Notes due 2049 will have an interest rate of 5.200% per annum and will be issued at a price equal to 99.894% of their face value to yield 5.207%.

The net proceeds from the offering are expected to be approximately $985 million, after deducting the underwriting discount and other estimated offering expenses payable by Crown Castle. Crown Castle intends to use the net proceeds from this offering to repay outstanding borrowings under its existing revolving credit facility.

Barclays, J.P. Morgan, Merrill Lynch, Pierce, Fenner & Smith Incorporated, MUFG and TD Securities are the joint book-running managers of the offering.

ABOUT CROWN CASTLE

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.