HOUSTON, June 04, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) announced today that it has priced its previously announced public offering of 1.350% Senior Notes due 2025, 2.250% Senior Notes due 2031 and 3.250% Senior Notes due 2051 in aggregate principal amounts of $500 million, $1.1 billion and $900 million, respectively. The Senior Notes due 2025 will have an interest rate of 1.350% per annum and will be issued at a price equal to 99.736% of their face value to yield 1.404%. The Senior Notes due 2031 will have an interest rate of 2.250% per annum and will be issued at a price equal to 99.830% of their face value to yield 2.268%. The Senior Notes due 2051 will have an interest rate of 3.250% per annum and will be issued at a price equal to 99.786% of their face value to yield 3.261%.

The net proceeds from the offering are expected to be approximately $2.473 billion, 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, together with available cash, to redeem or repurchase all of its outstanding 3.400% Senior Notes due 2021, 2.250% Senior Notes due 2021 and 4.875% Senior Notes due 2022.

J.P. Morgan, Mizuho, SOCIETE GENERALE, SMBC Nikko, 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 80,000 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.