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Crown Castle accepts tenders for $515.46 million 9% notes, $669.24 million 7¾% notes
By Jennifer Chiou
New York, Dec. 27 - Crown Castle International Corp. announced that it has accepted early tenders for $515,458,000 aggregate principal amount of its 9% senior notes due 2015.
The early tender deadline was 11:59 p.m. ET on Dec. 24.
Participating holders will receive a total consideration of $1,062.30 per $1,000 principal amount of notes, including an early tender premium of $30.00. The company will also pay accrued interest.
The tender offer will end at 11:59 p.m. ET on Jan. 9.
The company will redeem all remaining $829,628,000 of the notes on Jan. 23 at 105.625.
Tendered notes may not be withdrawn after the early tender date.
7¾% notes offer
Crown Castle said it has accepted total tenders for $669,237,000 aggregate principal amount of subsidiary CC Holdings GS V LLC's 7¾% senior secured notes due 2017.
This offer ended at 11:59 p.m. ET on Dec. 24.
Those who tendered prior to the early deadline will receive $1,063.45 per $1,000 principal amount plus accrued interest.
Remaining 7¾% notes will be redeemed on Jan. 10.
The tender offers were conditioned on the completion of an offering by CC Holdings of at least $1.5 billion principal amount of senior notes, as well as the completion of a $500 million increase in Crown Castle's revolving credit facility.
Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057, attn.: liability management), Barclays, J.P. Morgan Securities LLC and Bank of America Merrill Lynch were the dealer managers. D.F. King & Co., Inc. (800 967-4617, attn.: Elton Bagley) was the information agent.
Crown Castle is a Houston-based owner, operator and leaser of towers and other infrastructure for wireless communications.
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