Crown Castle to repay revolver borrowings via offering of new notes

By Sarah Lizee

Olympia, Wash., Jan. 29 – Crown Castle International Corp. plans to repay borrowings under its revolving credit facility using proceeds from a new offering of fixed-rate senior notes in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.

The revolver bears interest at Libor plus 100 basis points to 175 bps, based on the company’s credit rating.

As of Sept. 30, the effective rate was about 3.5%.

The revolver matures in June 2023.

Houston-based Crown Castle provides shared wireless infrastructure to wireless carriers.

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